instead of rent you sell non-voting shares in a company that owns the property and anyone who was ever a “renter” is entitled to a dividend if you ever sell proportional to their contribution to the mortgage and maintenance, or a discount if you sell to them.
uhhhh contact your state’s bar association i guess? i don’t remember what specialty of lawyer you need for it. I haven’t seen a template around, just general ideas for ways to entitle renters to a fair-ish share of the equity that’s built.
an S-corp would be sufficient but there might be more purposeful arrangements. maybe steal some bylaw phrasing from co-ops.
instead of rent you sell non-voting shares in a company that owns the property and anyone who was ever a “renter” is entitled to a dividend if you ever sell proportional to their contribution to the mortgage and maintenance, or a discount if you sell to them.
Is there a resource where I can learn about how to do something like this with my inheritance?
uhhhh contact your state’s bar association i guess? i don’t remember what specialty of lawyer you need for it. I haven’t seen a template around, just general ideas for ways to entitle renters to a fair-ish share of the equity that’s built.
an S-corp would be sufficient but there might be more purposeful arrangements. maybe steal some bylaw phrasing from co-ops.
Almost a rental-coop hybrid model
That’s genius. Works in our capitalist hellscape and gives people ownership to a degree even while renting.