Cohousing-L Mailing List: Re: Rentals in Cohousing

[Kevin Wolf (kjwolf]

Karin
We are a retrofit community so most of the house were once absentee landlord 
owned houses.  Four still are and two are rentals owned by people in the 
community. The homes have been brought into the community over 15 years.

Section 8 housing is going to be tough to do in a new community.  Typically 
rents start high to cover costs and then, at a 2-3% annual rental price 
increase per year, in ten years the rents are below market and Section 8 
applicants can afford it.  I am assuming that the community or individuals can 
come up with the capital to finance some of the units being rentals. Many 
communities can't find the resources or individuals to do this.

Good luck.

Kevin 

At 11:00 AM 1/28/2003 -0800, you wrote:

>I am curious about how you have structured your finances to create rental 
>homes. I am hoping to join Dearborn Commons in Seattle, but because I am 
>dependent on Section 8 rental assistance to pay my rent, I am looking at all 
>possible options to finance my unit.
>
>Thanks,
>
>Karin Landsberg
>karin [at] serv.net
>
>>We attribute our great diversity in this area to almost 50% of the homes are 
>>long term rentals which allow for more non-family adults (often those not 
>>able to buy a house) to live here.
>>
>>Kevin
>>****************
>>Kevin Wolf
>>N Street Cohousing Community member
>>724 N St, Davis, CA  95616
>>530-758-4211
>>kjwolf [at] dcn.davis.ca.us
>
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