Co-operative housing
In Australia, there are two forms of co-operative housing: Rental and ownership.
"Co-operative Housing is rental housing for people on low to moderate incomes where members select tenants, manage and maintain the housing. It is long term, secure and affordable. The government provides funds to build or buy dwellings and the co-op self-manages, making it a cost effective alternative to other forms of social housing. Rents are used to cover running costs, upgrades, administration and training." - Association to Resource Co-operative Housing
"A housing cooperative is a legal entity—usually a corporation—that owns real estate, consisting of one or more residential buildings. Each shareholder in the legal entity is granted the right to occupy one housing unit, sometimes subject to an occupancy agreement, which is similar to a lease. The occupancy agreement specifies the co-op's rules. Cooperative is also used to describe a non-share capital co-op model in which fee-paying members obtain the right to occupy a bedroom and share the communal resources of a house that is owned by a cooperative organization. Such is the case with student cooperatives in some college neighborhoods in the United States. - Wikipedia: Housing Cooperative"
Another form of co-operative is known as a "co-operative housing society":
"Co-operative housing societies first appeared in New South Wales in 1935 and were then known as terminating building societies. The aim of a co-operative housing society is to provide housing finance to low and middle income home buyers. Prior to 1956, housing societies secured funds from banks and insurance companies who saw such lending as socially desirable and a worthwhile form of long term investment. In 1956, co-operative housing societies were given access to Commonwealth/State Housing Agreement funds to lend to low income families as part of the federal government's housing policy. The societies on-lend funds from government sources and financial institutions to members of the societies. " - Co-operative Development Services Ltd