How can we cap and trade rental rights in my co-op (condo-ish) building?
You already have the cap here, so all you need is the trade. You need to create a market. You need to create and track a unit of trade: the owner-occupancy month (OOMs). Give current occupiers credit for up to two years of OOMs and give current landlords credit for the remaining time in their two year rental limit in OOMs. Then allow everyone to place bids to buy or sell OOMs (just like the stock market). Match buyers with sellers, make sure everyone gets paid and you are on your way. The cap, obviously, is that you cannot have a negative OOM balance. I’d imagine most people will want to buy and sell twelve OOMs at a time (in order to match up with year-long leases), but you probably don’t need to regulate this. The problem with this system is that you might end up with exactly 50% owner-occupancy (in fact, if you don’t end up with 50% owner-occupancy, the price of OOMs should fall to more or less zero). There are a few ways you could up the owner-occupancy rate if this becomes an issu
Related Questions
- Since Cap & Trade is already on the table wouldn’t it be beneficial to just get it passed and then try to refine the policy or push Fee & dividend?
- What is the difference between renting in a rental building versus a co-op or condo building?
- May a Private Rental Owner Restrict Tenants and Guests Rights to Wear Gang Colors?
