Entrepreneurs in the Bay Area are launching startups and raising money to help others purchase or rent homes to provide solutions to the region's housing affordability problem.
Affordable Equity, a new startup based in Oakland, California will offer renters equity in its properties. If the company makes profit selling a building, tenants can also be paid. “There’s lots of wealth being created through gentrification, but if you’re a low-income renter, that’s extremely scary,” said founder Steven Taylor to The Mercury News. “... This is a way to potentially build a boat so they can get in and have the rising tide lift their boat as well.”
[Startup] HomeSlice’s website helps home buyers agree on details such as how the property will be maintained, how shares will be divided, and how decisions will be made, and then turns that information into a co-ownership agreement that can be made legally binding.
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