|Endorsed by the Reform Party, Ron Brown Democratic Club, Isaiah Project,
AFRAM SEIU 250, AFRAM SEIU 535, AFRAM SEIU 616, AFRAM SEIU 790, AFRAM SEIU
1000, AFRAM SEIU 434-B, CAHEED, ASNA, OMI NEIGHBORS
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Affordable HomeOwnership Alliance
HomeOwnership for Tenants (HOT):
NON-BUYING TENANTS GET PERMANENT PROTECTION FROM
COSTA-HAWKINS RENTS INCREASES & ELLIS AND OMI EVICTIONS:
- Each tenant who
chooses not to buy under HOT shall be entitled to continue leasing their unit
under all existing rent control
protections, plus a LIFETIME
LEASE prohibiting owner-move-in evictions and Ellis Act evictions.
- A tenant can buy
their unit even after final recordation of the subdivision map, as long as they
can agree to a price with the owner.
- HOT is completely
voluntary. Prices are individually negotiated between owner and tenant.
- Tenants may also
agree with their landlord to buy a different available unit at any time.
- The HOT plan can save
the tenant significant money every month due to the homeownership tax
deductions. This money can be put towards other expenses, or towards savings.
Homeownership is the foundation for security and equity growth all over the USA
– except for San Francisco tenants!
- Using zero and low-downpayment
loan programs identified by HOT makes it possible for thousands to qualify for
a homeownership loan. It enables many more tenants to realize the
"American Dream" of home-ownership, gives them a significant stake
in the welfare of the City and their community, security for the future and a
nest egg that they can tap in emergencies.
- An education program
for financial literacy should be a first step for tenants embarking on the path
to homeownership. The City, in association with mortgage lenders, already has
programs of this kind which can be expanded to cover HOT applicants.
The Affordable HomeOwnership
Alliance is a non-partisan group committed to creative and practical win-win
solutions for San Francisco’s housing problems.
Finally, a solution – HOT!
For any other information please contact us on firstname.lastname@example.org