At Colonial Square Homes, we provide a place you will love to live in and the setting you want for better living. It’s easy here because the layout is thoughtfully planned, and the rooms are bright and spacious. Responsible for the interior decoration of your home and landscaping of your yard. Your tastes may be reflected in the interior and exterior of your home.
For more families like your own, the search for a truly satisfying home leads directly to the charming townhouses in Colonial Square Homes Cooperative. Here is the privacy you want, the convenience you have been seeking, and the neighborliness you hoped to find. These requirements are met and combined with the many advantages of cooperative ownership.
To qualify for membership, you must meet the income and credit standards established by the Board of Directors. Upon membership approval, you may purchase a share from a current member. All transactions are completed through the co-op office. As a corporate member, you and your family have the right to occupy a specific dwelling. You will receive both a Membership Certificate and an Occupancy Agreement. A set of By-laws and House and Grounds Rules. Govern the corporation
Each unit of Colonial Square Homes owns one share and has one vote in the corporation. The cooperative corporation holds title to the property. It is responsible for the upkeep and maintenance of the property, as well as the real estate taxes and the utilities for the exterior security, lighting, and water. The members elect a Board of Directors. The directors set policy, establish rules and determine how money is spent.
Colonial Square Homes (co-op) is a self-governing body; members set the rules, guidelines, and limitations. Members are expected to read and follow the rules set forth. Members are also encouraged to participate in some phases of our “volunteer” programs. Colonial thrives on the talents and ideas of our members. Our carrying charges. They are considerably less than rent or house payments because of the “gift” of the volunteer member Along with these things also comes a pride of ownership.
Consider the advantages of this plan over renting. You are not paying a profit to a landlord. Instead, your family pays only its share of the costs of owning, operating, and maintaining the Cooperative property. A realistic budget determines this amount on a not-for-profit basis.
As you know, if your family rents a house or an apartment, there are no tax advantages. Under a Cooperative, your share of the annual real estate taxes can be deducted from your taxable income. The benefits of individual home-owning are equally impressive.
Maintenance service is provided to members during regular office hours. The Cooperative’s professional maintenance staff is also available to treat emergency calls on a 24-hour basis. Check and compare the many benefits Cooperative ownership promises. That you and your neighbors are the sole owners of this multi-million-dollar Corporation makes for cooperative control and shared pride in establishing and upholding the community standards.