That is dependant on the type of co-op and the source of subsidy. However, housing charges are generally assessed based on the household’s gross income. A percentage of the gross income, as determined by need in relation to subsidy availability, is applied and, in some cases, additional deductions made for family size, single parents, working spouses, utility costs, etc. If the calculations of the housing charge falls below the co-op’s minimum, the member is assessed the minimum housing charge. Alternatively, if the calculation is greater than the co-op’s maximum housing charge, the member is assessed the maximum.
Contact Ascent Real Estate Management Corporation to inquire further about our co-op services.