How much does it cost to live in Sunset Terrace Cooperative?
Community members decide whether to increase the rent and by how much.
- Each Member household pays two charges. The first is the lot rent that is collected monthly to pay for operating expenses like taxes, insurance and the Corporation’s mortgage payments. Water and sewer charges are included in lot rent, and volunteers pick up trash and recycling to keep rent low.
- The second charge is the one-time Membership Fee of $100. And, Members get their Membership Fee back if they sell their homes.
- Once a Member has paid the Membership Fee, he or she only pays lot rent, currently $345 per month.
- Before the homeowners bought Sunset Terrace, we had monthly rent increases of $10-15 every year. We now have control over when and why our rent changes.
- Sunset Terrace charges new Members a non-refundable $55 application fee for each adult in the household. Find out more about the application process here.