Washington Hill Mutual Homes, Inc- Co-op

Washington Hill is not a rental property or room for rent but a housing cooperative!

What is a housing cooperative ?

A housing cooperative is a not-for-profit business, owned and operated by the member of the cooperative.
A member of a... cooperative does not own the dwelling unit, but rather, owns stock a share of the cooperative corporation. The corporation, in turn, holds title to the entire property, including structures, common areas, and parking areas, buildings systems and appliances.

WHMH qualifies as a housing cooperative under Section 216 of the IRS code. Very simply, what that means to you is that the cooperative corporation may pass through interest and real estate tax benefits, to you the member. You are able to claim your unit’s proportionate share of the interest paid on the mortgage loan, and the real estate taxes paid by the corporation, subject of course, to your method of filing your personal tax returns.

If you would like more about our Co-op and how you can become apart of the community ,please feel free to contact us. Read More