I’m not talking about the landlord/property owner, I’m speaking for the side of the renter… the people at the bottom of the pyramid… 36% of people ‘throw money away’ renting someone else’s apartment/home.
I’m talking reforming this thought process where we are taking money from people, instead of making money together. Not “for profit”, but “with profit”. Share the wealth in a non-socialist way
I’m not promoting either rent control or building new housing complexes.
I’m promoting a new type of community, a new type of banking, an option for landlords to create a win-win situation. Don’t need to build new buildings, just purchase them, like WeWork, consumers still have the option of just taking their own mortgage, or just to rent, but in reality, there is no reason ‘just to rent’ with digital technologies available.
Foundations & impact investors can purchase apartment buildings, and still make money renting out the properties. I’m not saying they have to reduce the rent, and take a longer ROI (though feel they should based on a renter’s income). I’m saying, rent-to-own should be the norm. And it should be credit transferable, not locked-in to a single property.
Consumers don’t have this choice, because even thinking 10 years ahead is so daunting, almost impossible to do. Even today, to think you will be in the same job for 5 years, in the same place, is almost unfeasible. You have no faith for most corporations that you will keep your pension.. And most people aren’t even offered rent-to-own to begin with. With a global rent-to-own market, it allows landlords to sell the property for current/future value of the property, without locking it at a given value, the number one reason they don’t even consider rent-to-own in the first place.