* Renter-occupied housing: Renters pay a landlord for the right to occupy a property they do not own. The landlord owns the building and is responsible for its maintenance and upkeep. Renters have limited control over the property and its management.
* Cooperative housing: Residents own shares in a non-profit corporation that owns the building. Each resident owns a share (or shares) proportionate to their unit's size or value. They don't own their unit outright, but they have a right to occupy it. Residents collectively govern the cooperative through a board of directors elected from among themselves. They share responsibility for maintenance, repairs, and management of the building.
In short, in renter-occupied housing, you rent; in cooperative housing, you own a share in the building that gives you the right to occupy a unit.