Frequently Asked Questions (FAQ)

About the Co-operative Model

  • How does this co-operative differ from others that were built in previous decades?

    • From the 1970s to 2002, more than 240 non-profit housing co-ops began operations in BC with federal and provincial funding that paid for subsidies to low-income residents. New co-ops don’t have that funding. All co-ops retain the core co-operative principles and participate in the greater co-operative movement.

  • What does the Co-operative manage? How is it run?

    • The Co-operative is responsible for its membership, community wellbeing and governance, and its corporate and fiduciary responsibilities. It is run by a democratically elected Board of Directors, comprised of Co-op Members. Co-operatives typically create committees to take on various initiatives and address aspects of co-operative living. They also develop a set of Rules and Policies to govern their operation and provide a framework for neighbourliness.

  • Who is the building owner, and who manages the property?

    • Community Land Trust (CLT) owns the building and leases it to McHardy Housing Co-operative. CLT provides management function for both property and the Co-op.

Membership & Financial Structure

  • What is a share purchase and how does it work?

    • To join a co-op, you must purchase shares in the co-op ($ Varies) – it’s similar to a membership fee and a damage deposit for your home. Your share purchase is due upon acceptance to the co-op. Should you withdraw your membership, your share purchase will be returned to you minus any outstanding fees or costs of repairs.

  • How are housing charges paid?

    • All the charges are paid via automatic monthly electronic pre-authorised withdrawals. Upon acceptance to the co-op you will be asked to complete a PAD form and provide a void cheque.

  • What does the monthly rent include?

    • Members pay monthly housing charges, not rent. Most units have in-suite storage, and those that don’t there will be a storage locker on the floor provided free of charge. Members pay for their own utilities.

  • How do housing charges increase over time?

    • Housing charges are adjusted for August 1st every year (starting 2023), based on comprehensive operational and asset management costs. Typically, increases to housing charges are lower than increases in the private rental market because there are no profit margins.

  • Will I need to show proof of income once I am a Member of the Co-operative?

    • Yes, there will be an annual review of income for all household members 18 and older.

Moving in & Living Arrangements

  • How many people are allowed to live in my home?

    • Applications will be reviewed to determine if the household’s size corresponds with the number of bedrooms available in the home following national occupancy standard.

  • Are housemates or roommates allowed?

    • Yes, housemates are allowed. All household occupants should be listed within the application, and the co-op board should be notified of any changes to household occupants.

  • Are assignments or subletting allowed? If yes, what are the restrictions?

    • No, Not allowed.

Utilities, Insurance & Responsibilities

  • Which companies will I need to set up utilities with?

    • Members must set up an account with BC Hydro. Telus also offers a 40% discount to McHardy Members. You will be provided with the information to sign up.

  • Do I have to get insurance on my unit and/or belongings?

    • Yes, content insurance is mandatory. A large discount is available to McHardy Members through The Co-operators® Insurance program for co-op members (Member Guard). You will be provided details and sign-up instructions once accepted into the co-op.

  • What am I responsible for fixing myself

    • Members are responsible for the proper use, care and cleaning of most elements within their homes. Damage to the unit beyond regular wear and tear is the member’s responsibility to fix.

  • Who can I contact for emergency repairs?

    • CLT deals with building repairs related to various building systems, as well as the maintenance of common areas and building exterior. Once accepted into the Co-operative, you will receive full information on emergency repairs procedures.

Building Policies & Amenities - Coming Soon

  • Is there parking?

  • Are pets allowed and do I need to place a pet deposit?

  • Is smoking allowed in the home or on balconies?

Leaving the Co-operative - Coming Soon

  • What is the process for moving out or cancelling my co-op membership?

  • Is my Member Share returned?