Housing Ideas – Motel Model

  • Form an LLC.
    • I don’t know what the starter business should be that begins the LLC, but there should probably be one.
    • Give the LLC a capitalist name like Fillmore Investment Group.
    • Each employee of the LLC receives one vote in representation.
  • The LLC buys a motel.
  • The LLC makes any necessary improvements.
  • The LLC sells the units as condos, retaining ownership of the infrastructure elements and the restaurant, if any.
    • If it’s illegal in a location to sell a condo that has no kitchen, the LLC can alternatively sell owner shares in the LLC which come with the benefit of a specific unit.
    • Each unit (or member) receives one vote in representation.
  • The LLC charges a fee for maintenance and insurance.
  • If there is a restaurant, the LLC rents out the restaurant, preferably to a cooperative.
    • If the budget allows, the rent from the restaurant can support maintenance and insurance, and the occupant-owners. need not pay a fee.
  • The LLC rents out their laundry facility to a cooperative business.
    • Any self-help laundry facilities remain available for the occupant-owners.
  • The proceeds from condo/share sales and facility rentals not only go to repay the LLC’s original mortgage to obtain the motel, but also may be used to purchase an additional motel and start the cycle over again.
  • Each motel participates in direct democracy to make decisions affecting the whole location.
  • Each motel elects a representative to a council that directs the activities of the LLC.

Questions:

  • If an LLC employee buys into a condo, do they get two votes?
  • How big can the LLC sustainably get?
  • Do the restaurant and the laundry get votes?
    • If so, does each business get one vote?
    • Do the representatives go to the location’s council, the LLC’s council, or both?
  • I cannot possibly be the first person to think of this. Who else has drawn up plans?
    • Is anyone already working on models like this?
    • If so, who?
    • If so, can they be hired to provide a report?

PS:

  • Open source
  • Best practice