Freedom Village cooperative

A resident-owned community

What is a resident-owned community and what does it mean for homeowners?

  • In a resident-owned community, tenants form a nonprofit business called a cooperative (co-op) corporation.
  • Each household is a member of the corporation and an equal owner of the land. As a group, the corporation owns the land and manages the community.
  • The members continue to own their own homes individually.
  • There are many benefits to living in a resident-owned community, including control of monthly lot rent, repairs and improvements, lifetime security against unfair eviction, liability protection (members are not personally liable for corporation loans), and a strong sense of community.
  • Everyone has a say in the way the cooperative is run, and major decisions are made by democratic vote.