Housing Co-operative

Coed Talylan Housing Co-operative (CTHC) is a co-operative society that owns the long-term leasehold of the areas of the land that are associated with the OPD plots. This amounts to around 20 acres and includes shared infrastructure and service media.

The Members of CTHC are tenants with occupancy agreements that determines an equity share or stake. This occupancy agreement allows the residents to own the equity (value) in their home but the asset itself is owned mutually through the co-operative. In this sense the members are both tenants and landlords. The value of the property will be determined independently and the resident member stake in that value will include; the initial financial equity payment; the cost of building the property including labour and/or “sweat equity”; it will also allow for a calculation, overtime, of the value uplift of the property and inflation.

The Members are responsible for the management and maintenance of their property and, as part of the Co-operative (CTHC), and to collectively manage the shared resources and communal assets. Although the prerequisite of establishing a housing association is not stipulated in the occupancy agreement it is stated as a requirement within the CTHC Membership agreement.