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Pine Tree Cooperative FAQs
You've got questions? We've got answers. However, if you have a question that you don't see answered here, please contact us and we'll be happy to assist.

What is a cooperative?
Our cooperative is a non-profit corporation designed to provide affordable housing to its members. To move into a townhouse, a prospective member purchases a membership from the cooperative, and pays the equity value in the townhouse. Members then pay a monthly carrying charge, much like rent. The cooperative then takes responsibilitiy for the care of all the legal and financial obligations.

What's the difference between renting, owning, and being in a cooperative?

Monthly Cost Your monthly payments are amazingly low. You pay only actual costs. The tenant must pay what the landlord asks The owner's monthly expenses are much higher.
Total Cost Your costs are cut to the bone: longest mortgage terms, special low interest rate. The tenant's rent includes high cost of commercial construction and financing. The owner pays for higher mortgage interest rates, uncontrolled profits, closing costs.
Ownership You and the other townhouse residents are the sole members of the property. You occupy the home of your choice for as long as you wish. The tenant owns nothing (except a file of rent receipts). The owner is completely responsible for his/her house.
Liability You have no personal liability — you sign no mortgage or note The tenant has no personal liability. The owner is personally liable for the mortgage and note.
Maintenance Your cooperative takes care of your townhouse inside and out (except redecorating). The tenant has no control over maintenance standards. The owner is fully responsible for all repairs.
Management Your household and every other household each have one vote in an election of directors. Business affairs are handled by a professional management firm. The tenant has no voice whatever in management. The owner alone is responsible for all decisions ... and mistakes!
Community Control The elected Board of Directors help establish policy, rules, and standards for your community. The tenant has no control. The owner has no jurisdiction except in court.
If You Have To Move You give notice, and your cooperative may help you sell it, for a small fee to cover overhead expense. The tenant is bound by a lease drawn up by his/her landlord. The owner must sell his/her own house and pay larger brokerage fees.
Increase In Value Your membership can increase in value under a formula written in your Coop By-Laws. You can get credit for improvements. The tenant gains no increase in value. The owner's equity depends on market factors beyond his/her control.
Replacements Your cooperative has reserve funds waiting in the bank to replace items as they wear out. The tenant must wait for the landlord to decide when and if to make replacements. The owner must foot the bill for replacements.

Do you allow pets?
Yes! We now allow pets. The size limit is 21" at the shoulder and 45 pounds.

What happens when I move away from Pine Tree Townhouses?
If and when you choose to move, you are responsible for paying a nominal resale fee to the cooperative, and some reconditioning expenses. However, we refund the membership and equity you paid at move in, and all the equity it accrued while you lived here, minus anything you owe the cooperative. This is a great benefit, as you receive a return on your initial investment.