How can a limited equity cooperative assure its success? →
Your co-op is only as strong as its board and members.
How are maintenance fees or common charges determined? →
Maintenance/common charges are based on your co-op’s mortgage and common costs.
What does my monthly maintenance fee cover? →
Maintenance fees cover general operating expenses.
How much can I sell for? When can I sell? →
Limited Equity co-ops have income restrictions and affordability guidelines.
What happens if something breaks in my unit? →
You are responsible for repairs inside the unit.
Who will monitor the board’s activities? →
As owners of the corporation, the shareholder members—you—are responsible to monitor the co-op’s management and finances.
Can I put my child on my shares? →
Only adults can be owners. UHAB recommends you do two things in prep for buying.
What are proper maintenance increases and percentages? →
Maintenance fees should be raised yearly and in all cases must be sufficient to cover your expenses and reserves requirements or needs.