That’s maybe a little dishonest from Techcrunch. Had to look elsewhere to see that they have a lien on your property, not just in “the unit”. This is really what sinks this idea to my mind.
As much as I’m very in favor of adding auxiliary units (it’s a great way to add density to single family areas without freaking people out). But holy hell run, don’t walk, away from this deal. If you can’t finance it yourself, then don’t do it rather than give a bunch of strangers a 30 year lien on your property.
Bruce Wayne would be a great neighbour; quite, keeps him self to him self, doesn’t make much noise, and seems to work a permanent night shift… unfortunately, this is Carter Hayes from “Pacific Heights”, and he is not any sort of good neighbour
Practically every house near me that had a garden, now has a small house at the end, although many of those started off as a garage. I don’t know how many of these are rented by the owners of the house, or if they sold the land to a developer, or what. A single car garage that could potentially get planning permission is worth more than I could afford.
EG, this road near me. Every one of those buildings used to be an empty back garden (well, a hundred years ago they were empty gardens, but various garages and workshops have appeared over the decades).
I was going to comment about how I envy you Americans and your large tracts of land… and then I clicked on the link… Friggin’ BRISTOL!? I guess that this trend hasn’t made its way as far as Birmingham yet; though, if HS2 ever actually reaches here, and Brum becomes a dormitory town for London, I expect that micro developments may become a thing. The current trend is turning empty office blocks in to “luxury studio flats”.
Ha, I was looking at the same link you have. The post I relied on was:
I could be missing something else in the thread (I did a page search for “lien” rather than slogging through everything). Since they usually refer to the unit as “the unit”, I’m assuming “home” means your house. If they are using that interchangeably, then that doesn’t speak well to them either. Obfuscation in this arena does not inspire trust.
Founder and CEO, Jeltz, responded to criticism of his company’s allegedly onerous terms:
“We simply provide a way for homeowners to make additional income without the financial strain of self-funding property improvements. All of the completely reasonable terms of our contracts are readily available in a file cabinet in our office on Mercury, at the bottom of a mine shaft, under 20 meters of hydrochloric acid populated by mutated pirhanha.”
That might be more tempting if you could just put your share of the money it earns towards buying it from the company. Provided the math worked out, after a few years you could earn a backyard addition to your home.
Let’s see if I can reproduce something I managed to do in Discourse recently. I’m not sure if this will work, but I’ll give it a shot.
What could possibly go wrong?
Forget I said that…
Let’s see if I can reproduce something I managed to do in Discourse recently. I’m not sure if this will work, but I’ll give it a shot.
What could possibly go wrong?
Forget I said that…
Working multi-paragraph block quotes is easier when you use the > symbol. Put one at the beginning of every paragraph and at the beginning of each empty line, and it creates one blockquote.
>Let's see if I can reproduce something I managed to do in Discourse recently. I'm not sure if this will work, but I'll give it a shot. > >What could possibly go wrong? > >Forget I said that...
Yeah, that detail makes a crapload of difference. They essentially get to take out a mortgage on your property, but they get the benefit of it and you get the liability.
Yeah this basically turns this into yet another thing that takes advantage of the financially un-cautious, but can just barely present itself as plausibly not-a-scam.
