Stakeholder Control: Giving Renter-Owners Right of First Refusal
Previous articles in the Stakeholder Control series provided detailed visions of a future in which no one is forced into rental slavery. A future in which everyone acquires a fair share of partial ownership in property proportional to the amount of money they put in.
This article provides more details, specifically surrounding the rule that any shareholder can force everyone to sell the property at any time. Typically the shareholders will include the original owner of the property, and also any renters whose rental payments earn them proportionate equity shares in the company, likely an LLC, that owns the property.
What we want to avoid as much as possible is forcing a current user of the property to vacate it, a situation that current law allows. Imagine a house that a family has been renting for years. It would be nice not to force them to vacate the house that the family has grown to love as their home.
This article proposes Stakeholder Control procedures to make it more likely that a current user of the property can continue to do so even if another shareholder in the property forces it to sell. It will not make it certain, though.
Right now, if a landlord sells a property, the a current renter can make an offer along with anyone else. Only if the…
