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Why You Should Never Buy Co-Op Housing


A recent article by the CBC, covers the story of a co-op property in South Surrey that changed ownership at the end of the property’s lease leaving residents with a close to TRIPLED rent increase or forced to try to find alternative housing.

In this video, Real Estate Specialist, Steve Karrasch of Macdonald Realty provides cautionary advice as to why co-operative and leasehold properties may look like affordable housing options, but can prove to be risky when it comes to the lease.

Closure of Surrey, BC, co-operative leaves residents desperate for affordable housing: https://www.cbc.ca/news/canada/british-columbia/totem-coop-closure-1.6839482

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