FAQ's

“Participation required” means that when you become a member of the co-op you will be expected to get involved in running the co-op. This could mean joining a committee such as the finance or welcoming committee, getting involved in the upkeep of the building, or offering your time to organize co-op events or activities.

Non-profit housing co-ops are mixed communities. Members of housing co-ops come from a variety of backgrounds and have a wide range of incomes. Some members pay the full housing charge. This is often called a “market” housing charge. Other members with lower incomes pay less. This is called a subsidized housing charge. Some units in every non-profit co-op are subsidized.

Most non-profit housing co-op’s receive money from the government (federal or provincial) to help house some lower-income members. The housing charge for these units is adjusted to the household’s income. This is often referred to as “rent-geared-to-income” or “RGI” or a subsidized housing charge. The subsidy makes up the difference between what the member pays and the co-op’s normal housing charge. The amount of subsidy is limited. When a co-op’s operating agreement with government ends, the subsidy will also end. Co-ops have to start planning for that future.

A share purchase is the share you buy to become a member of a co-op. Usually, one member per unit in a co-op buys a share in the co-op as they are accepted for membership. Each share gives a member a vote in general meetings. Shares range from $1,000 to $7,000 (a typical share purchase is around $2,000). A share is a little bit like a damage deposit in that you get the money back when you leave the co-op (unless the unit has been damaged in which case the share is used to cover repair costs). However, co-ops do not return share purchases with interest. Please note that in most co-ops, 2 months’ notice is required prior to moving out. Shares also stand as the co-op’s working capital.

When we are accepting applications, you can fill out the form linked to the bottom of our application page. We periodically close the form when there are too many people on our waitlist.

In addition to the basic information requested in the application, MRHC also requires you to submit financial information.

MRHC, like most other co-ops, has a long waitlist. We cannot provide an estimate, but you should be prepared to wait for several years. We remove from the wait list all applications over 12 months old. After one year, if you are still interested in MRHC, you must re-apply.

Each year, a budget is reviewed and approved by the membership which will determine the amount of the September 1 housing charge increase. To keep up with inflation and other expenses there is an annual housing charge increase. Since we are a non-profit, we strive to keep this increase as minimal as possible.