A Housing Cooperative is a type of residential community where members collectively own and manage the property. Instead of owning individual units, members purchase shares in the cooperative, which gives them the right to occupy a specific unit. This model promotes shared decision-making and responsibilities among residents, fostering a sense of community. Members of a housing cooperative typically pay monthly fees that cover maintenance, utilities, and other communal expenses. This arrangement can make housing more affordable and accessible, as costs are shared among all members. Additionally, cooperatives often prioritize long-term stability and community well-being over profit.