Re: All-Rental Community

David Oesper
 

Sharon,

Ever since your post yesterday I’ve been thinking a lot about how Mirador could be structured as an all-rental community. Here’s my idea.

The renters are the owners. The organization that operates Mirador would be a cooperative. Instead of paying your rent to a landlord, you would pay your rent to the community. The renter-owners would not be building equity for themselves but rather equity for the community. All proceeds would be invested directly back into the community. As long as you are a renter, you are a part-owner of the community.

How would decisions get made about how the money gets spent, etc.? Some form of consensus or perhaps sociocracy would be used.

Income from the RV park, tourism, education, etc. would also be reinvested back into the community.

Raising the capital needed to purchase land would require issuing shares. Those shares would make you a community founder. Some future residents of Mirador will have money to invest in shares prior to living at Mirador, and others would not be able to pay anything until they begin renting. Some shareholders may not plan to live at Mirador but will want to support the project. We might consider some form of crowdfunding.

What privileges will be afforded to community founders/shareholders? Will community founders/shareholders have any privileges that differ from the renter-owners after the community is established? These are questions that will need to be answered.

Since Mirador will have an RV park, a sharehouse, apartments, and a cohousing community, where will people be able to live on-site until the community raises enough funds from rental and business income to build their permanent homes? We might find some land with an existing house on it that could be used right away as the sharehouse, and others could live in the RV park until their apartments or homes are built.

Some amount of conventional financing seems likely so the community gets developed faster than at a snail's pace...

Lots to work out yet to create a viable business plan, but that’s the gist.

Thanks,

Dave

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