Read my comment again: I am trying to eliminate the concept of renting. Practically nobody should be renting residential property, or property used as a residence. A hike on rent prices would be a good thing, as it would drive tenants away from renting and toward the better option I have been alluding to.
Tax discounts to lower rent prices only incentivize the worst, most negligent slumlords, in a race to the bottom for housing quality. That is not a viable long-term strategy.
I want to replace “renting” with “land contract”.
A land contract is a type of purchase agreement that starts off similar to a rental. They aren’t used very often because they are somewhat complex, and they put a lot of power in the hands of the buyer/tenant rather than the seller/landlord. Land Contracts have a fixed monthly price: there is no year-to-year price hike.
Most importantly, they gain equity for their tenant/buyer.
Read my comment again: I am trying to eliminate the concept of renting. Practically nobody should be renting residential property, or property used as a residence. A hike on rent prices would be a good thing, as it would drive tenants away from renting and toward the better option I have been alluding to.
Tax discounts to lower rent prices only incentivize the worst, most negligent slumlords, in a race to the bottom for housing quality. That is not a viable long-term strategy.
I want to replace “renting” with “land contract”.
A land contract is a type of purchase agreement that starts off similar to a rental. They aren’t used very often because they are somewhat complex, and they put a lot of power in the hands of the buyer/tenant rather than the seller/landlord. Land Contracts have a fixed monthly price: there is no year-to-year price hike.
Most importantly, they gain equity for their tenant/buyer.