Private rents are soaring. And house prices are back to unaffordable levels. But before you abandon all hope, there could be a door of opportunity opening

The living room of Cath s co-op

Co-operative housing may conjure up images of long hair and flares, but in the age of the buy-to-let landlord they've never been more relevant.

Anyone can set up a co-op, but there are also many existing quietly under the radar. We spoke to Cath Muller from the Cornerstone Housing Co-op in Leeds to find out how they work and what it's like to live in one:

The co-op

The large garden of the co-op

I have lived in this co-op for 20 years. It wasn’t finding a cheaper place so much as this was my desired living situation. The current system drives people into home ownership and taking out a mortgage. I wanted to be a tenant while retaining control.

A housing co-op is essentially a business which owns or leases property and rents it to its member tenants. There are lots and lots of them around - most were founded in the 70s or 80s.

Some co-ops are enormous and have hundreds of members. But we’ve got two houses and we manage them through a general meeting. We all do it together.

We bought the houses back in 1993 and 1995. By today’s standards they were ridiculously cheap. We set our rent to housing benefit levels. It’s a third of your income. For some of us that’s slightly cheaper than market rent, but for others it’s more expensive. You’re making a contribution to the co-op - it’s a different way of looking at things.

Poll loading

We’ve paid off our mortgage but we have remortgaged to carry out work on the house support a sister co-op. We’ve kept our rent at the same level.

I know people for whom moving house is almost an annual ritual. I couldn’t imagine that myself. The flipside is you don’t have to take responsibility for the property. We do - and we also have to look after the business and the group dynamic. There’s plenty of co-ops where that hasn’t happened and the co-op has failed.

We can do whatever we like with the rooms and we use the garden. That’s a massive bonus. We garden together.

Of course living in a co-op has its ups and downs. I just think it is endlessly fascinating to see how different people get on. The energy changes every time someone leaves and someone else joins.

Want to save money by living in a co-op? Here’s Cath’s advice:

Members of Cath's co-op share common values

1. Check it out in person

Visit one. See what they’re like. Each has its own character. My co-op has quite an explicit political outlook - members have got to want to live sustainably. But other co-ops were set up to promote affordable housing.

2. Find out how old it is

It will be cheaper if you live in a long established co-op and it will be cheaper if they are communal. For the last 15 years, house prices have been so ridiculously high. Unless the co-op found a very cheap, big house they won’t manage to pay the mortgage off with rents at housing benefit levels.

3. Think about the group

Individual people can have an effect on the group. We have kicked people out for not engaging so your housing is always a little dependent on the group. If you want to move into a co-op you should probably get to know people first.

4. Share your talents

If you want to make a living space for yourself that provides what you need then a co-op is ideal, but it is not essential. Think about what you could bring to it.

Find a co-op

You can find existing co-ops by checking out the directories of these organisations or searching on the web:

UK Cohousing Network - Cohousing offers a bit more privacy than some co-ops. Each household has a private home but residents join together for events and meals. There’s a handy map here .