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1900 John F. Kennedy Boulevard, Philadelphia, PA 19103

What is Cooperative Housing? | Penn Center House

what is cooperative housing

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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