What are the benefits of a co-op?

[Abigail Wise]

Hi everyone! Please forgive me if this is a silly question, as I'm new to this forum and have just started attending courses to get my associate broker's license. 

In my course, we are learning about co-ops, but I'm confused about the benefits of a co-op. Can anyone explain to me why someone would opt to be a part of a co-op vs. owning property outright via a condo or something of that nature?

Thanks so much!!