Re: Real Estate Gifts?
From: David Heimann (heimanntheworld.com)
Date: Wed, 7 Apr 2021 08:50:51 -0700 (PDT)

Hi Sharon,

We (Jamaica Plain Cohousing) have done something like this in the past, and there's some consideration to doing so again. In our case, a Harvard graduate student rented a unit for the two (or more) years of his thesis work (along with another young man who helped with the rent). He was very good for the community, as involved or more so than practically any of the formal residents.

We do have a limit on the length of a long-term rental, so I'm not sure how a unit donated as a long-term affordable rental would work.

Do you have experience or knowledge with either a temporary or an ongoing affordable rental of a donated unit?

Thanks,
David Heimann
Jamaica Plain Cohousing


Re: Real Estate Gifts?
From: Sharon Villines (sharonsharonvillines.com)
Date: Mon, 29 Mar 2021 11:06:02 -0700 (PDT)

On Mar 29, 2021, at 1:51 PM, Lyn Deardorff <lynpeachtree [at] outlook.com> wrote:

It appears one of our current residents is considering such a move to donate his unit to us and is working with his lawyer to include it in his estate planning.

What a wonderful gift! I have no information or experience but obviously consult a lawyer. The Association (or whatever legal designation you have) would own the property. Our legal documents do have general provisions for selling the common areas that are owned by all of us in percentages.

One use is by the community at large, not rented to a household that couldnʼt otherwise afford to live there. Or rented on a short term basis to people wanting to experience cohousing. DC has lots of people in town from all over the world who have 6-12 month fellowships or research grants, some 24 months, who need places to rent and welcome the community setting.

Sharon
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Sharon Villines
Takoma Village Cohousing, Washington DC
http://www.takomavillage.org



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