Everyone's name is on the deed so no one can sell unless we all agree and get a cut.. Everyone pays a well below market rate monthly fee (This is not a 'rent' because no individual or entity is being payed for use of the property. Its a fee for the costs of the property existing in its current condition and to the state). The fee pays taxes and the excess is pooled for necessary repairs/upgrades. We get along as like-minded individuals so there's minimal discussion over what is necessary or not. Everyone contributes out of their own pocket for aesthetic stuff like paint in their personal spaces.
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My current commune works like this -
Everyone's name is on the deed so no one can sell unless we all agree and get a cut.. Everyone pays a well below market rate monthly fee (This is not a 'rent' because no individual or entity is being payed for use of the property. Its a fee for the costs of the property existing in its current condition and to the state). The fee pays taxes and the excess is pooled for necessary repairs/upgrades. We get along as like-minded individuals so there's minimal discussion over what is necessary or not. Everyone contributes out of their own pocket for aesthetic stuff like paint in their personal spaces.
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I’ll probably meet the choppy boi for this sentiment, but owning a duplex and renting half is more like having room mates than being a landlord
Isn’t a co-op like that?
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Depends, does this hypothetical person derive from the rent personal funds to use at their discretion? If so...choppy choppy