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You can never get back the money you lose when a unit stands empty. Whenever a member gives notice, it’s important to get the word out, which is usually the responsibility of the manager. As soon as a prospect gets in touch, your co-op needs to follow up promptly. Otherwise, they will go elsewhere.

Your co-op has three main assets, although only one appears on the audited financial statements.

Your money and buildings

Protect your co-op‘s property by buying the right insurance in the right amounts. All housing co-ops need five kinds of insurance:  property, loss of housing charges, public