Condos are deeded properties. Convert the building from apartments to condominiums, and use land contracts instead of rental agreements. Anyone who stays longer than the initial period of the land contract begins to gain equity in their property.
The “stick” is the massively increased property taxes on residential properties, so that the exemption can be larger. I would say that San Francisco is an outlier, and should not be used as an example when considering a general rule. They will require special consideration.
Condos are deeded properties. Convert the building from apartments to condominiums, and use land contracts instead of rental agreements. Anyone who stays longer than the initial period of the land contract begins to gain equity in their property.
The “stick” is the massively increased property taxes on residential properties, so that the exemption can be larger. I would say that San Francisco is an outlier, and should not be used as an example when considering a general rule. They will require special consideration.