Frequently Asked Questions

A housing cooperative is a unique form of homeownership. Instead of purchasing real estate directly, members purchase a membership in the cooperative and receive the right to occupy a home. Members collectively own the cooperative and elect a Board of Directors to oversee the community.

Cooperative living offers many of the conveniences of renting while also providing the benefits of membership ownership. Residents at Southwicke Square enjoy maintenance services, landscaping, and community upkeep without many of the responsibilities associated with traditional homeownership.

Unlike traditional renting, members purchase a membership interest in the cooperative and may build equity over time. Monthly carrying charges help support the operation and maintenance of the community rather than generating profit for a landlord.

To apply for membership at Southwicke Square Cooperative, prospective residents must complete an application and submit the required documentation for review.

Applications may be obtained from the office. Once submitted, applications are reviewed to determine eligibility for membership and occupancy. Approval is subject to cooperative requirements, income qualifications, and Board approval.

Please contact the office for current availability, estimated wait times, and additional application information.
 

Application requirements may vary based on household circumstances. Applicants are generally required to provide identification, income verification, employment information, tax documents, and other supporting documentation necessary to verify eligibility. The office can provide a complete list of current application requirements.

Southwicke Square Cooperative may maintain waiting lists depending on unit style and availability. Estimated wait times can vary based on the size of the home and current demand.

For the most current availability and estimated wait times, please contact the office directly.

Monthly carrying charges help cover the cooperative's operating expenses, including property taxes, mortgage obligations, maintenance of common areas, grounds care, and other community operating costs. Please contact the office for current carrying charge information and details regarding utilities.

Applicants must meet the income and occupancy requirements established by the cooperative. Eligibility is determined during the application review process and may be reviewed again when a home becomes available. Contact the office for current qualification requirements.

Yes. Memberships may increase in value over time based on the cooperative's governing documents and approved equity schedules. Members may also receive credit for approved improvements made to their home, subject to cooperative requirements and approval.

Members may be eligible for certain tax benefits associated with cooperative living, including a share of the cooperative's real estate taxes and mortgage interest. Members should consult a qualified tax professional regarding their individual tax situation.

Members planning to move must provide written notice to the office. Before moving out, the home will be inspected and must be returned in accordance with cooperative requirements. Members are responsible for returning the home in acceptable condition and may be responsible for costs associated with damages or required repairs beyond normal wear and tear. The office can provide information regarding the move out process, inspections, and any applicable membership transfer procedures.

Southwicke Square provides maintenance services for many building systems and common areas. Members are responsible for promptly reporting maintenance issues and may be responsible for repairs resulting from negligence, abuse, or damage caused by household members or guests.

Maintenance requests should be directed to the office or can be completed online on your resident portal. Emergency maintenance concerns may be reported through the emergency contact information provided by the office. Members are encouraged to report maintenance issues as soon as they arise.

Certain improvements, alterations, and modifications require prior written approval from the cooperative. Exterior changes, structural modifications, air conditioning installations, and other alterations may require approval before work begins. Residents should contact the office before making any modifications to their home.

Yes. The cooperative maintains insurance on the buildings and common areas, but residents are responsible for protecting their personal belongings and are encouraged to obtain a tenant or homeowner's insurance policy for personal property, liability coverage, and improvements made within the home.

Southwicke Square Cooperative is governed by a Board of Directors elected by the membership. The Board is responsible for overseeing the operation of the cooperative, establishing policies and rules, approving memberships, and helping maintain the community for all residents.

Barbecue grills are permitted on rear patios only. Grills are not permitted in front of cooperative homes and must be attended at all times by an adult or appropriately supervised minor while in use.

Residents may install certain approved satellite television equipment subject to cooperative rules and installation requirements. Prior approval from the cooperative may be required before installation.