The Freiburg Apartment-House Syndicate

• advises self-organized house projects* and other interested persons
• participates in projects
• helps with the financing of projects
• initiates new projects
• administers the Solidarity Fund
• administers the Grether Foundry-Shop Fund
• continuously seeks "direct credit" for its associated self-organized projects

* Together with the Syndicate, the tenants of an apartment house establish a limited liability company which then buys the building. The tenants now pay rent to the company, but are simultaneously responsible for all aspects of running the company, financing the purchase, and administering the building. In this way, affordable living space is preserved, and the building protected from exploitation by real-estate speculators.
The heart of the plan is the so-called "direct credit." The company (i.e., the tenants) borrows money directly from private persons (friends, acquaintances, family, etc.), offering 0 - 3% interest. This inexpensive "direct credit" is used to pay back the expensive (>6%) bank loan used to finance the initial purchase of the building. The profits earned after amortization of the bank loan are used to finance new projects.

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