Basics of Co-op Life

As a member of Ridge Side, you have the right to occupy a particular unit in the co-op, to use one parking space and to have use of the common areas of the co-op’s property.

Each member is responsible for:

• paying their monthly carrying charges on time;

• paying the down payment loan payments on time, if such a loan is arranged with the co-op;

• attending the annual meeting;

• attending the monthly board of directors’ meetings;

• attending special meetings of the board of directors which may be called for various purposes, such as to interview potential new members, address timely maintenance issues, etc.;

• putting in an agreed-upon number of hours of work monthly toward the co-op’s operations (currently the requirement is at least five hours per month);

• preventing damage to co-op property;

• watching out for the interests of the co-op.

Members are obligated to abide by the co-op’s Articles of Association, Bylaws, Occupancy and Membership Agreement, House Rules and any other decisions made by the Board of Directors.

Members are responsible for ordinary maintenance in their apartment.  If needed, other co-op members are often available to offer advice or help.  For serious electrical, heating or plumbing problems, the co-op Maintenance Coordinator is contacted.  The co-op takes responsibility for maintenance of the structural aspects of the buildings.

When a member leaves the co-op, their transfer value will be returned, with a reasonable amount withheld to act as ‘security deposit’.  This ‘security deposit’ is returned within 30 days, less the amount of any damages to the unit.