The relationship between NP and member co-ops is governed by Lease and Management Agreements, NASCO Properties board-approved management policies, and the policies of the member cooperative. The NASCO Properties' governing documents are all designed to give the member cooperatives management control with NASCO Properties, what we call "Joint Management." Generally, NASCO Properties documents set guidelines for the co-op's internal policies, and set various criteria and limits.
The following is a summary of the major stipulations of these documents:
The co-op must be a democratically-governed cooperative in membership, ownership, and control. Towards this goal, leasing cooperatives must have active boards of directors.
Lease expenses, paid on a monthly basis, cover the costs of the property and its operations to NASCO Properties. NASCO Properties also collects a small amount of income for its own reserves and for future development.
Leasing cooperatives perform minor maintenance according to their needs and wants. NASCO Properties and the co-op are jointly responsible for major maintenance. Major maintenance priorities and schedules are coordinated with the cooperative to accommodate its desires while not jeopardizing the long-term considerations of the property.
Leasing cooperatives must provide for regular and fruitful communication with NASCO Properties, and their own members. NASCO Properties encourages and supports the education of members by leasing cooperatives; many educational resources exist through NASCO Properties' parent organization, NASCO.