Frequently Asked Questions

How is Greenbriar Co-op different from an apartment or condominium?

Greenbriar Co-op is residential housing owned by a corporation, Greenbriar Townhouses, Inc. Co-op members are voting shareholders of the corporation and partial owners of the entire property. Each member enjoys the right to the exclusive use of one of the units and has a vote in the business of the co-op. Co-ops are generally less expensive than apartments or condos, as they operate on an at-cost basis, rather than for profit. Co-op units are not considered real property.

Apartments are owned entirely by an external corporation or landlord and renters pay monthly charges that are set by the owner. All rules and rental rates are set by the owner without input from renters.

Condominiums are multi-unit dwellings with privately owned residences that maintain shared common areas and infrastructure such as elevators, basements, and/or rooftops. Condominiums are classified as real property, meaning that buyers own the deeds to their dwellings.

What is it like to be a member of the Greenbriar Co-op?

As a Greenbriar Co-op shareholder, you have certain rights and responsibilities. These are outlined in our Governing Documents — the Articles of Incorporation, Bylaws, Occupancy Agreement, and the Rules and Regulations. You have the right to exclusive use of a specific unit. You have a right to vote to elect or remove board members, and to amend the Bylaws. You are responsible for paying your monthly carrying charges on time and for abiding by all the other requirements of the cooperative.

How are Greenbriar members responsible to the larger community?

When you become a member of the Greenbriar Townhouses, Inc., you agree to actively participate in and contribute to the well-being of the entire community. Each member has valuable experiences, skills and knowledge they may contribute, including:

• Attending open Board meetings. These are held monthly and are a good forum for voicing ideas, concerns and suggestions.
• Staying informed by becoming familiar with the Governing Documents.
• Voting in all elections, serving on committees, helping with special projects and serving on the Board of Directors.
• Actively volunteering on committees, helping your neighbors with different projects throughout the year and offering your time and experience to improve the life of the community.

What do monthly carrying charges include?

• Water in individual units, for landscaping and the swimming pool.
• Basic maintenance of individual units, including needed repair or replacement of hot water heater, dishwasher, stove and heating/cooling units, necessary electrical and plumbing.
• Landscaping of all common areas. Common areas include all areas outside individual units, patios and entries. For example, parking areas and interior roadways, clubhouse, gates, bulletin board and mailbox area, sidewalks, steps and railings, trash and recycling areas are all common areas.
• City services, including sewer, trash and recycling.
• Services of a professional management company, with one employee on site Monday–Friday.
• Wages for maintenance workers employed by Greenbriar Co-op, on site Monday-Friday and on call for emergencies.
• On-call services of a professional Security Company.
• A portion of each member’s Carrying Charges is used to pay New Mexico property taxes. Depending on their individual tax situations, members may be able to deduct some or all of their portion when they file their annual federal tax returns.
• Overall property and liability insurance. The Greenbriar Co-op is much like condominium associations, in that members are responsible for purchasing insurance to cover their personal possessions and the interior of their unit. The Co-op carries insurance to cover the property as a whole.

Which costs are members responsible for?

• All utilities inside individual units except for water. Stoves, hot water heaters and unit heating use natural gas. Washers and dryers use electricity.
• Installation, maintenance and repair of refrigerators, washers and dryers. Because of the configuration of the power and water outlets, stacking washer/dryer units are not allowed.
• Personal property insurance.