Learn more about Co-Owning
How is this different from purchasing a condo?
When you decide to become an owner with the Co-Own Company, you own a share of the cooperative that owns the building where you’ll live. Like a condo, you’ll have access to your private space and common areas.
How is this different from renting?
From the moment you become an owner with the Co-Own Company, you begin to earn equity in your investment that’s in line with the local real estate market. When you leave and sell your share, you’ll earn money on the equity built up while you lived there.
What happens when I want to leave?
When you are ready to leave, you sell your share on the open housing market to the next interested buyer. The Co-Own Company makes it easy to list your unit for sale and can assist in preparing it for re-sale. When you have an interested buyer, that person interviews with the other residents in your home to make sure they’ll be a good fit. When everyone agrees to live with the new buyer, the Co-Own company will assist you in finalizing the sale of your share and you’ll receive your payout.
How much will I earn / what kind of return can I expect on my investment?
Our shares appreciate at market rate, which varies in every city and neighborhood. We’re happy to walk you through an estimated return based on your share choice.
Can I rent my share?
Specific rules about renting your share are made at the house level. All of the residents in each residence must approve co-residents, whether they are owners or renters.
What happens if one of my roommates doesn't pay for their share?
Another resident not paying their share doesn’t endanger your investment. If an owner doesn’t make regular payments to their share loan, their loan will go through a foreclosure process similar to defaulting on a standard mortgage.
What if I don't like my co-residents?
If you’re experiencing conflict with your co-residents, the Co-Own Company can offer recommendations on conflict resolution processes and mediation. If you’ve moved through conflict resolution and decide that this just isn’t for you, you can sell your share or rent your space and retain your investment until you’re ready to sell.
What's covered in my monthly payment?
A lot! Shares at the Co-Own Company provide the ease of renting but the financial benefits of ownership. Your monthly payment includes payment on the loans related to your member share (blanket loan + share loan), all of your utilities, long term maintenance, handyman services, landscaping services and use and upkeep of all common areas. Rest easy knowing support is just a phone call away if something goes awry.
How do I get started?
Email [email protected] for an initial application. After we review your initial information, we’ll invite you to an orientation sessions where we’ll cover more details about ownership.
When can I move in?
We’ve purchased our first site on S. Holly St and expect those units to be ready in Winter of 2023. Check back here for updates on our construction timeline.
Can you match me with housemates or do I choose my own?
Either way! We’re working on the best platform to connect interested co-owners who are wanting to occupy a residence independently or as a couple. Each townhouse has four bedrooms, so you’re also welcome to apply as four connected co-owners and reserve four shares together in the same unit.
Are there house rules? Can those change?
Some rules are decided at the building level (e.g. no cigarette smoking) and other rules are decided at the house level (e.g. are dogs allowed, quiet hours). Building rules are set by the Co-Own Company and do not change, but House Rules can be changed by unanimous agreement of the residents in each unit.
Get In Touch
Need more information? Contact us to get all your questions answered.