Tolpuddle Housing Co-op
Affordable Housing in London Ontario, Canada
Tolpuddle Housing Co-op
Affordable Housing in London Ontario, Canada
Frequently Asked Questions
Frequently Asked Questions
What is a Co-op?
Who owns the Co-Operative, Who is the landlord?
How does a Co-op differentiate from London Housing
Lease Agreement - Occupancy Agreement
How do I become a member?
What are the fees?
What is a Co-op?
What is a Co-op?
A Co-operative is a group of people who form a corporation to provide a service for themselves. In a housing Co-op, the service provided is housing, and the people who live in the housing are voting members of the Co-operative Corporation, which owns and operates the units(housing). The members elect a board of directors from among themselves. The members authorize this board to conduct the day to day business of the Co-operative in a manner that satisfies all of the requirements of its Charter, Bylaws, Agreements, and Policies.
Who owns the Co-Operative, Who is the landlord?
Who owns the Co-Operative, Who is the landlord?
The Co-op is the owner, and has management. This means that each member, by virtue of membership and voting rights in the business of the Corporation, is a part owner of the housing project. The members, however, do not own their individual units. They can not buy, sell or sublet their units. They are guaranteed the exclusive right to occupy the unit, as long as they continue to respect the Charter, Bylaws, Occupancy Agreement, and Policies of the Co-operative.
How does a Co-op differentiate from London Housing
How does a Co-op differentiate from London Housing
There are important differences. Some of them have to do with the way the housing is financed, and some of them have to do with the way it operates.
This Co-op was developed with some financial assistance from the three levels of Government: Federal, Provincial, and The City of London. The Co-op operates on a break-even basis. There is no provision for an outside owner-landlord, so the income received from the "members' loan" and "housing charges" is adequate to cover the Co-op's real expenses.
The care that members take of their units and the careful planning that they do for the long term maintenance can affect the costs. The members then benefit directly through a housing charge payment that is reasonable. The Co-op's housing charges will gradually become more favourable through the long term, when compared to the charges for private rental housing, where a profit is made, and where there is little or no resident influence in the management of the complex.
In social terms, the Co-op's goal is to become a community where the members are "at home," and where living is more than existing within four walls. The methods used to foster this special feeling of community may vary from Co-op to Co-op, depending on the personalities and interests of the members. They do it by organizing social gatherings, special interest groups, and liaisons with other Co-operatives. They can do it by paying special attention to each other's human and civil rights, by identifying and accommodating people's special needs, and by being good citizens of the community outside the Co-op.
Lease Agreement - Occupancy Agreement
Lease Agreement - Occupancy Agreement
At Tolpuddle we do not sign a lease agreement but an Occupancy Agreement. The occupancy agreement states its obligations of the coop to the members and responsibilities of the members to the coop. Lease agreement is a contract to pay monthly for a period of time. an Occupancy agreement is not a locked in time period; however, members are required to give a specified notice before moving out, this is 60 days.
How do I become a member?
How do I become a member?
You will have to fill out an application from the office. Attend an information session to see what we require from a potential member. This will provide the Co-op with information about you and your housing needs.
The first step is filling out the application. It will provide the Co-op with information about your housing needs, your credit rating, and your potential as a member. If the member criteria are met, you will be notified that you have been accepted as a prospective member.
If you have any questions you can contact us
Housing charges
Housing charges
- One Bedroom units are $597.00 per month plus a one time membership fee of $25.00. Hydro is not included. It is electric heat
- Two Bedroom units are $670.00 per month plus a one time membership fee of $25.00. Hydro is not included. It is electric heat
- One Bedroom accessible units are $ 597.00 per month plus a one time membership fee of $25.00. Hydro is not included. It is electric heat.
- Two Bedroom accessible units are $670.00 per month plus a one time membership fee of $25.00. Hydro is not included. It is electric heat
All units are available for RGI (Rent geared to Income). You will have to go through London Housing access center application process and put your name on our housing registry list Z8
Fees
Fees
Most co-ops may also require a new member to pay:
- the first month's housing charge;
- a membership fee;
- a credit check fee: and
- a maintenance (damage) deposit or security deposit.
The maintenance deposit is kept by the co-op to pay for any required repairs, damages or cleaning after the move out. The balance is refunded once the member has moved out of the co-op and the unit has been inspected. This is not considered last months rent.
Frequently Asked Questions