How College Students Can Own Their Own Home
Well, so to speak. A housing cooperative actually makes students part-owners of their house, even if only for a couple years. It can bring benefits material and non-material:
āCooperatives arenāt trying to make money off of everyone,ā Crawford said. With no surplus needed for a landlord's profits, students in housing co-ops can keep costs down.
Other, perhaps more potent advantages canāt be measured in dollars and cents. If we accept the premise that the typical buyer-seller relationship is inherently undemocraticāfor instance, a renter has no control over their housing situation except what is specifically granted to them in their leaseāthen a co-op offers students greater self-control.
āInstead of students paying large sums of money to live in a dorm where they have no control over what happens, who they live with, how theyāre governed, et cetera,ā said Crawford, co-ops put students in the driverās seat.
While the specific methods vary, the idea is that students use a democratic process to set rents, decide what repairs are needed, and figure out who is responsible for which chores. They can even sell their house if they so choose, Crawford said. (But not to cash outāthe money would be held by the co-op as part of the zero equity structure.)
The rest at Campus Progress.