One reason the U.S. government pushed for homeownership is because it’s thought to reduce turnover and build strong communities. Owners have a vested interest in their properties whereas renters don’t—but what if were to change?
Hong Kong, for example, has a significant number of apartment buildings where units are rented out as shells and it’s the responsibility of the renter to finish them and make them habitable. Renters have a reason to stay put and maintain the unit because they effectively own a chunk of it. When they do move out, a new renter adds a new interior, so units are always being updated.
Can this setup work for rental buildings in the U.S.?
Source: Metropolis
Related Stories
Market Data | Aug 19, 2019
Multifamily market sustains positive cycle
Year-over-year growth tops 3% for 13th month. Will the economy stifle momentum?
Giants 400 | Aug 15, 2019
Top 140 Multifamily Sector Architecture Firms for 2019
Humphreys & Partners, KTGY, SCB, CallisonRTKL, and Perkins Eastman top the rankings of the nation's largest multifamily sector architecture and architecture engineering (AE) firms, as reported in Building Design+Construction's 2019 Giants 300 Report.
Multifamily Housing | Aug 12, 2019
Multifamily Amenities 2019: Rethinking the $30,000 cup of coffee
What amenities are “must-have” rather than “nice to have” for the local market? Which amenities will attract the renters or buyers you’re targeting? The 2019 Multifamily Amenities Survey measured 113 amenity choices.
| Aug 9, 2019
Whirlpool Debuts Smart All-In-One Washer and Dryer
Whirlpool washer and dryer in one machine can provide laundering solutions in apartments with limited space.
| Aug 9, 2019
'Buildings Don't Lie': A building science reference book worth your time and money
Review of "Buildings Don't Lie," by engineer Henry Gifford.
| Aug 8, 2019
Wilsonart Engineered Surfaces to acquire Czech firm Technistone
U.S. manufacturer Wilsonart, maker of High Pressure Laminate, Quartz, Solid Surface, Coordinated TFL and Edgebanding products, moves to acquire Technistone.
Multifamily Housing | Aug 7, 2019
New start, new life, new friends: Student residence life in the age of Instagram
When it comes to the design and space planning of your residence life program, the quality of the space you create will be reflected in the social media feeds of your students.
Multifamily Housing | Aug 6, 2019
Using P3s to create affordable housing, public services
How the city of Chicago and nonprofit groups partnered to build three libraries plus affordable housing in underserved neighborhoods.
Multifamily Housing | Aug 3, 2019
A plant—or at least its image—grows in Brooklyn
A 90-foot mural overlooks the courtyard of a new residential building.
| Aug 2, 2019
Closet System Adds Value to Grand Rapids Apartment Community
20 Fulton Street East is a 12-story residential community in downtown Grand Rapids, Mich., developed by Brookstone Realty Management, where Organized Living's closet system was installed by dealer Rayhaven Group.