What about rentals?
Many cohousing neighborhoods include a few rental units owned by members who intend to move in later or who are away for a period of time. In some communities, individual households rent out their attached “in-law” apartments or finished basement apartments. Some people want to rent in cohousing to try it out, because they cannot yet afford to buy a unit, or because they want to live in a particular community but no units are currently available for sale. Most residents agree that rental units are a positive addition to a community.
Related pages: Money, Affordability
The challenge is integration and overcoming fears
As a former cohousing landlord (renting out a unit in one community for a couple of years after moving into another), I found myself surprised by the reaction of some of my former neighbors. They seemed to like the commitment/certainty/predictability they associated with homeownership, and didn't want to have to deal with building a neighborly relationship with someone who "could be gone" in a year or two. I think some may also have seen my moving out as a form of abandonment. I also heard concerns about the potential effect on resale values if "everybody did it," (based on concerns regarding financing if more than 25% of units were not owner-occupied) although in eight years there has never been more than one unit of the 20 rented out at a time.
It helps immensely to have someone living in the community to be a liaison or mentor, perhaps a Community Life/Group Process/People team or committee dedicated to being there to provide support and training.
I felt very comfortable renting out my unit because (a) some neighbors were very helpful and able to my tenants deal with any issues that came up as far as the unit, and (b) if there were any problems with my tenants, I'd hear about it from other neighbors.
Raines Cohen, Cohousing Coach
at Berkeley (CA) Cohousing
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