Harvard Square Coop
8262 McFarland Road
Indianapolis, IN 46227
Welcome home to Harvard Square Cooperative in Indianapolis, Indiana!
We will make your home an enjoyable living experience! Our residents believe that the feeling of community, distinctive units, and the fabulous amenities that Harvard Square has to offer makes it one of the best choices in the Indianapolis area. We would love the opportunity to assist you in finding your new home. Contact us today to speak with one of our top-notch leasing professionals!
We are sure you will enjoy our Apartments or Townhomes and you will find living in our Cooperative a rewarding experience. Cooperatives are friendly neighborhoods where members respect each others’ rights and privacy. You are invited and urged to take part in our Cooperative.
You get the best of both worlds with cooperative living. It combines worryfree community living without the hassles of private ownership. Your membership allows you to participate in the decision-making process by electing a Board of Directors that represents the community as a whole. Each household in the co-op has one equal vote. An outside professional management firm handles the business affairs of the cooperative.
A reasonable monthly carrying charge covers expenses such as gas utilities, water, sewer, lawn care, street and walkway clearing, building repairs, and 24-hour emergency maintenance staff. Members are responsible for their electricity, telephone and cable (if desired). Our cooperative member’s are encouraged to decorate the inside and the outside their home to their own taste.
As a cooperative member, you have both privileges and responsibilities. Every applicant goes through a screening process including a credit check, criminal check, income verification and rental history. All prospective members are screened equally to ensure only those applications qualify based on the cooperative membership selection policy, every adult household member must submit income and information as per the membership selection policy.
In a co-op, you have no personal liability because you do not sign a mortgage or bank note. However, because of your membership, you do have an income tax advantage. Though you cannot claim renter’s deduction on your state taxes, you can claim interest and real estate taxes paid by the cooperative. The amount you can claim is based on the amount the cooperative pays each year.