Oakdale Residents Cooperative
Call us on: (248)541-6870
A Cooperative is a business owned by the people who use it. Each member of Oakdale Residents Cooperative has an equal vote in the Cooperative.
A small cash investment purchases your membership in the Cooperative and makes you one of the owners who enjoy the advantages of ownership with the convenience of renting. Your monthly payments cover your fair share of the Cooperative’s cost without a built-in profit margin.
The Board of Directors sets the standards and retains a professional property management firm to supervise the staff in maintaining the structural, electrical, plumbing, and HVAC repairs. Oakdale Residents Cooperative provides external care that includes lawn, tree, and shrubbery care as well as snow and trash removal.
How can I get information on availability?
You may call us, You can also stop by our office in person. We would be happy to show you around.
Is it like renting?
Co-op living is better than renting in many ways: – You make one monthly payment that includes principal, interest, taxes, insurance, administration, and maintenance of home, landscaping, and playgrounds. – You don’t collect rent receipts – your investment in Oakdale Residents Cooperative continues to grow in value. – It is possible that approximately 75% of your payment will be tax deductible – not so with renting where you get no benefit from your rent dollar. – Also tax deductible, is the share of cooperative’s interest paid by the family, or on their behalf. – You pay only the actual cost of the nonprofit operation – if you rent, you pay what the landlord can get away with.
Is it like owning your own home?
YES, BUT IN MANY WAYS IT IS BETTER.
As a member of Oakdale Residents Cooperative you get the advantages of home ownership without the responsibilities: –
Your home is taken care of inside and out except for interior decorating…at no additional cost!! – You are not personally liable for the mortgage.