Cannabis Legalization and Housing Co-ops
The Co-operators
Search
Protect Your Assets
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
Coverage for Loss of Housing Charges
Date
24 August 2016
Being under-insured puts a co-op at risk. Insurance protects against a misfortune that strikes without warning. In a housing co-op anything can happen, from a fire - several major fires have occurred over the past few years - to a staff person or president gone missing, along with the entire capital
Your Insurance and Legal Grow Ops
Date
5 May 2017
Under new federal rules introduced in August 2016, landlords have little recourse if a tenant is growing licenced medical marijuana in their unit. There’s a risk, though, that insurance policies will not cover damages from any activities deemed ‘high risk’, and, in most cases, the operation of a
Recouping your Loss from Fraud
Date
8 October 2015
The Agency has discovered that some housing co-operatives victimized by fraud are unable to collect on their insurance because they miss the deadline for reporting their loss. Others don't try to make a claim out of the mistaken belief that a claim won't succeed without a criminal conviction.
Our
Q&A on Insurance for Housing Co-operatives
Agency for Co-operative Housing
Tip of the Month
Capital Reserve Balance
61% of Agency clients hold a capital reserve balance of at least $6,000 per unit. By almost doubling the amount from 2007, co-ops are nearly twice as ready to meet their future needs.