Wohnungsgenossenschaft

A Wohnungsgenossenschaft, often translated as a housing cooperative, is a form of collective housing ownership and management. Members of the cooperative purchase shares in the organization, which in turn owns and manages residential properties. These properties can include apartments, houses, and sometimes even commercial spaces. The primary goal of a Wohnungsgenossenschaft is to provide affordable and secure housing for its members, prioritizing living quality and community over profit maximization.

Membership in a Wohnungsgenossenschaft typically involves an initial share purchase, which is often refundable upon leaving the cooperative. Members are granted a lifelong or long-term right to use a dwelling within the cooperative's portfolio. This right is generally more secure than a typical rental agreement, as members cannot be arbitrarily evicted. Decisions regarding the cooperative's management, such as rent adjustments, renovations, or the acquisition of new properties, are usually made democratically by the members at general assemblies.

Wohnungsgenossenschaften operate on the principle of self-help, self-administration, and self-responsibility. Profits generated by the cooperative, if any, are typically reinvested into the property maintenance, modernization, or are distributed back to members in the form of dividends or reduced housing costs. This model fosters a strong sense of community and shared responsibility among residents, as they are all stakeholders in the housing complex. They are a significant part of the housing market in many German-speaking countries, offering a stable and member-oriented alternative to private landlords.