Making L.A. Affordable
A form of co-ownership called the tenancy in common is picking up steam in California cities — most recently, in Los Angeles, where a company named B&A Group LLC is overhauling single-home properties so they become multi-unit townhomes.
Each buyer receives a share of ownership in a townhome, with the exclusive rights over one section of the building. The co-owners pay monthly dues to a homeowners’ association to cover maintenance costs.
A set of new California “upzoning” laws has made this model possible in more areas, so we’re expecting the trend to take off. What’s to like — and what’s not to like — about the tenants in common model?Continue reading “Here Come the Tenants in Common”