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1900 John F. Kennedy Boulevard, Philadelphia, PA 19103

What is Cooperative Housing? | Penn Center House

When exploring homeownership options, many people are unfamiliar with the concept of cooperative housing. So, what is cooperative housing, and why might it be a smart alternative to traditional ownership or renting? A housing cooperative (or co-op) is a residential building owned and operated by a corporation made up of its residents. Instead of purchasing … Read more

A Comprehensive Overview of Proprietary Lease Agreements

proprietary lease

In cooperative housing, a proprietary lease is a unique legal contract granting a shareholder the right to occupy a specific unit in the building. Unlike buying a condominium, residents don’t own real estate directly; instead, they own shares in the cooperative corporation, and the proprietary lease (also called an occupancy agreement) formalizes their rights and … Read more

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1900 John F Kennedy Blvd,
Philadelphia, PA 19103

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