MSU Student Housing Cooperative

The MSU Student Housing Cooperative (MSU SHC) is a non-profit, autonomous organization providing an affordable off-campus housing option to students and the Greater Lansing community. There are more than 240 members in our 17 houses. Houses vary from 5 to 29 members, each with their own character and history. Our name honors our historical affiliation with Michigan State University, where we remain a registered student organization. However, we operate independently from the university with additional requirements and guidelines for membership.

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Filtering by Tag: defecit

I live in a house now that got hit with a large deficit. I also lived in the house last year, but I can’t pay it all this month. What happens?

The SHC has a policy for late fines with any balance over $100. This late fee can be waived for up to 3 months, but the house deficit must be over $150/person and you must bring it to the Corporate Treasurer to approve. This works like a payment plan for the deficit. 

In summary, the SHC bad debt policy still applies to any balance on your account outside of the specific approved deficit of $150. 

*Please discuss circumstances with your house and/or house treasurer if you wish, but we want to maintain individual accountability.

 

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Do members who currently live in the house--but did not live in the house during the previous contract year--have to pay the deficit?

No worries. You only have to help pay off the deficit if you lived in the house when the house went over budget. Similarly, you won’t receive a surplus check if you did not live in the house when the house stayed under budget.

Why do I have to wait for the house audit to get my shares back?

The shares you purchase(d) when you sign a contract in the SHC office make you an owner in your house. Those shares are also used to buffer the cost of a house deficit, should that happen. Money can also be added to your shares if your house has a surplus. Until the audit is finished, we don’t know if your house has a surplus or deficit.