A housing co-op is a legal body that allows a group of individuals to buy and run their own housing needs for themselves. It is formally registered under the Industrial and Provident Act 1965. Larger co-ops, for example in Glasgow, are very like housing associations with tenant committees, while Talamh is much like a ‘shared house’ with each member renting their own room and sharing some other spaces such as the kitchen.
Housing Co-ops provide a good legal structure to allow individuals to purchase and maintain their own housing requirements. For similar reasons as owner occupied houses, housing co-ops are exempt from HMO (houses in multiple occupancy) regulations.
If you would like further information about setting up your own Housing Co-op please contact us and we will be happy to provide more information.