Cooperative status and fees

{
  "id": "MLC-T-ECS-000407",
  "term": "Cooperative status and fees",
  "field": "Economic statistics",
  "definition": "In the American Housing survey, a cooperative is a type of ownership whereby a group of housing units is owned by a corporation of member-owners. Each individual member is entitled to occupy or rent out an individual housing unit and is a shareholder in the corporation that owns the property, but does not own the unit directly. The corporation may have a mortgage on the whole group of units. The member may have a loan or mortgage to buy his or her shares in the corporation.\n\nA cooperative maintenance fee (also called carrying charge) is a fee charged to the owners of the cooperative on a regular basis. It covers a share of the annual amount paid by the cooperative for real estate taxes, mortgage interest, and operating cost. In the publications, medians for condominium fees and cooperative fees are rounded to the nearest dollar.",
  "references": [
    "U.S. Census Bureau Glossary"
  ],
  "url": "https://mlchart.com/terminology/economic-statistics/cooperative-status-and-fees/"
}