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What is a housing cooperative?

A housing cooperative is a self-promotion real estate model in which a group of people come together with a common goal: to access homeownership at the most affordable price possible, without intermediaries or developer profit.

In this model, each cooperative member actively participates in the development process, from the initial phase to key handover. The goal is not profit, but acquiring a home at the real cost price. Therefore, decisions are made democratically and collectively, following the principles of participation, transparency, and self-management.

How a cooperative works

A cooperative operates as a legal entity with its own legal personality. It is regulated by specific laws and by internal statutes that govern its operation:

General Assembly

It is the sovereign decision-making body, where all members have a voice and vote. They meet to approve accounts, elect officers, ratify key decisions, or hire the agents involved in the development.

Ordinary General Assembly

It is the mandatory annual meeting where the financial statement of the fiscal year is presented and approved, along with other relevant matters included in the agenda. Holding this meeting is essential to ensure transparency and the proper functioning of the cooperative.

Extraordinary General Assembly

These are all assemblies held outside the ordinary call, throughout the fiscal year. These meetings are convened by the Governing Board when deemed necessary and always include a pre-established agenda.

Governing Board

The representation and daily management body, composed of members elected in the assembly. Its functions include ensuring compliance with agreements, coordinating with the management company, and supervising the project's development. It consists of at least three people (President, Vice President, and Secretary).

Auditors

Responsible for auditing the cooperative's annual accounts.

What is the role of the management company?

Since most members do not have experience in the real estate sector, the cooperative usually hires a specialized management company to support it throughout the entire process, providing comprehensive advice from the formation of the cooperative to the handover of keys to the members.
The management company provides a comprehensive service that includes:
  • Technical, legal, and financial advice.
  • Land location and acquisition.
  • Hiring of architects, construction companies, and auditors.
  • Economic and administrative management of the development.

The management company is not authorized to handle the cooperative’s funds, which are under the control of the Governing Council and audited by independent entities. All relevant decisions must be ratified by the General Assembly. However, the management company will be present at the Assembly meetings. All decisions are supported and advised by the management company.

Advantages of buying a home in a cooperative

Buying a home through a cooperative offers multiple benefits compared to traditional purchase:
  • Significant cost savings, which can range between 15% and 20%, by eliminating the developer’s profit margin.
  • Transparency throughout the entire process, with continuous access to information.
  • Direct participation in decisions affecting the project.
  • Flexible payment plan, adjusted to the progress of the construction.
  • Right to voluntary withdrawal, with refund of contributions as established by law.

Rights and obligations of cooperative members

Rights:
  • Participate in the Assembly with voice and vote.
  • Elect and be elected for representative positions.
  • Access all cooperative documentation.
  • Resign voluntarily and recover contributions (within the legally established timeframes).
  • Obtain a guarantee of refund of contributions through a bank guarantee or surety insurance once the building permit is granted.
Obligations:
  • Comply with the agreements approved in the Assembly.
  • Make financial contributions on time and in full.
  • Participate actively in cooperative life.
  • Maintain confidentiality regarding sensitive information of the cooperative.

What guarantees does the cooperative offer?

The law requires that all contributions made by members are guaranteed from the moment the building permit is obtained, either through a bank guarantee or surety insurance. Additionally, many cooperatives have their accounts audited by external companies to reinforce process security.
Cooperatives must also be properly registered in the regional or national Cooperative Registry and provide each member with the statutes and the membership contract.

What types of homes can be developed?

Cooperatives can develop both free-market and subsidized housing (VPO, VPPB, VPPL), always complying with legal requirements regarding size, habitual use, and maximum price.
In the case of subsidized housing, the development must also adhere to the criteria set by the relevant public authorities.

A participatory, secure, and intermediary-free housing model

At Único Homes we support the cooperative model as a way to access housing under more affordable conditions, with full transparency, real participation, and professional guidance.
Thanks to our experience as a specialized management company, we ensure that each project is managed with rigor, technical reliability, and a commitment to provide maximum security to every cooperative member.