Virtual Dividends In this series, we have discussed many benefits of living in a co-op community, with continuing care.  But, while writing this series, something amazing happened!  The residents of Baywoods of Annapolis received something that is literally unheard of in the industry – virtual dividends!  That’s right, for the month of December? the residents voted to give themselves a fee-free holiday!  Here’s how it happened! For-Profit Housing Cooperative As we have discussed, Baywoods of Annapolis is a Continuing Care Retirement Community that is structured as a for-profit housing cooperative (co-op) for seniors.  As such, residents are shareholders in the community and collectively make decisions on the activities, services, and food provided.  They have a direct hand in the future of the community.  Each of these decisions is influenced by the preferences of the community, but the group also make decisions that will be beneficially cost-effective. Exceeded Sales Goals So, in 2016, the sales for Baywoods Cooperative Housing Corporation (BCHC) were better than expected.  Actually, sales far exceeded goals and most expenses were well within budget!  So, the residents decided to take those profits and provide a ‘fee-free holiday’ for each resident, for one month.  This fee free holiday is like receiving a

Cooperative Senior Living When you are touring communities for a place to retire, there are a variety of lifestyles and options available.  In this article, we provide you with five reasons you should consider a cooperative community (co-op) like Baywoods of Annapolis for your retirement! Cooperative communities, also referred to as ‘co-ops,’ are a great consideration when looking at Retirement communities. Include them as part of your search.  First, you should understand that a typical co-op is often structured so that all of the residents own the cooperative together, which allows them to share in the tax and financial benefits of ownership.  So, residents reap many of the same benefits as owning a home. Most co-ops have monthly dues that cover the costs of routine maintenance, landscaping, cleaning, and in some cases, on-site dining and various supportive services. By pooling together the needs of the entire community, and eliminating the middle-man, you have the ability to control costs, without the burden of sole ownership. Co-ops have the potential to build equity, just like real estate. For example, the Baywoods of Annapolis co-op offers a unique lifestyle, with a prime waterfront location.  A waterfront community is a sought-after feature not available