Housing cooperatives, or co-ops, are a unique form of housing where residents collectively own and manage their living space. Instead of owning individual units, members buy shares in the cooperative, which gives them the right to live in a specific unit and participate in decision-making. This model promotes a sense of community and shared responsibility among residents. In a housing cooperative, members work together to maintain the property and make important decisions, such as budgeting and rules. This collaborative approach can lead to lower housing costs and a more supportive living environment, making co-ops an attractive option for many people seeking affordable housing.