Georgetown University is an educational institution founded on Jesuit values. Moreover, the mission of the School of Continuing Studies (SCS) at Georgetown University is to \u201cdeliver a world-class, values-based education to a diverse array of communities and individuals throughout their academic and professional careers.\u201d In furtherance of the mission of SCS, we will occasionally reflect upon Jesuit values through-out this course. For this assignment, we will explore the meaning behind the motto of the Jesuits \u2013 \u201cAd Majorem Dei Gloriam\u201d. Loosely translated to mean \u201cto the greater glory of God\u201d, we are asked as faculty and student to discern and choose what is the \u201cbetter\u201d path in the world when faced with a choice between competing good options (we never actively discern an option that we know to be bad). The \u201cbetter\u201d choice is the one that we arrive at through careful discernment about how a course of action more fully serves the common good of society and more fully aligns with our personal values and sense of social justice. As ethical professionals and as students at a Jesuit institution, we are encouraged in our study to regularly reflect on how to be of service with and for others and to do our work in a manner that allows us to fulfill our personal mission. By way of example, the commercial real estate industry has evolved over time to respond to needs of the greater community when promoting affordable housing or when remediating environmental contamination. In both cases, competing societal policies are often reconciled to arrive at a societal policy which is then distilled into action through law, regulations or rules.<\/p>\n\n\n\n
In this assignment, you are asked to reflect upon the competing policies associated with the rights of residential tenants and their landlords \u2013 promoting stable communities and wealth creation associated with the homeownership experience as well as wealth creation through the freely marketable sale of property. The objective of this assignment is to give you the opportunity to consider the role that societal policy might serve in promoting a \u201cbetter path\u201d in the world. By taking time to evaluate the application of tools learned in class to an issue commonly encountered in communities through-out the world, you will have an opportunity to appreciate the potential impact (for better or for worse) that these tools may have when used with a purpose. ;<\/p>\n\n\n\n
Please read the compilation of articles included in the package \u201cLand Lease in Doubt Download Land Lease in Doubt\u201d which accompanies this assignment. After reviewing the articles, please complete the following assignment. <\/p>\n\n\n\n
Generally, in the United States, tenants are not entitled to a first right to purchase the fee interest in the property that they rent. While the landlord and the tenant may freely negotiate such a right by contract, society has not recognized the need to provide a springing tenant\u2019s right to purchase the property. Such is the case in most commercial lease scenarios such as office buildings, hotels, retail shopping centers and warehouses; however, residential rental properties pose a unique challenge for society.<\/p>\n\n\n\n
In certain parts of the United States, residential tenants are granted a limited first right to purchase the property in which the live. In such cases, when the landlord desires to sell the rental property, then the tenant receives notice and a limited opportunity to purchase the rental property before the landlord can generally market it for sale to the public. In Washington, D.C., tenants of residential rental properties have the right to buy the building upon the landlord\u2019s notice of sale through the Tenant Opportunity to Purchase Act (or \u201cTOPA\u201d). The stated policy considerations underlying TOPA include stabilizing city neighborhoods, combating urban displacement and helping tenants to become homeowners. However, where residents often do not have sufficient financial means to make an offer to purchase the property, they might assign or waive their right to purchase in exchange for cash or assurances like affordable rent, an option to buy their unit at below-market rate and renovations. In 2016, the practice of assigning or waiving the TOPA rights in return for compensation (of some sort) was ultimately considered detrimental to the interests of the existing landlords \u2013 distorting the purchase-and-sale process and delaying closings. As a result, the District of Columbia government eliminated some of the protections of TOPA in 2016. <\/p>\n\n\n\n
The need to promote the homeownership experience among tenants of residential rental properties is not unique to the United States. In communities all over the world from Washington, D.C. to Wenzhou, China, governments strive to balance the need to promote the homeownership experience of residents while facilitating legal ownership of landlord. Specifically, many societies have recognized inherent benefits of stabilized residency and promoting home ownership for resident as a means of wealth creation. On the other hand, many societies have also recognized the need to facilitate the free sale of property in order to promote wealth creation. <\/p>\n\n\n\n
Reflecting upon the competing policies introduced in this module regarding residential tenant rights to participate in the landlord\u2019s ownership experience, how do you feel the tenant\u2019s interest should be promoted while protecting the rights of the existing landlord to sell the property? <\/p>\n","protected":false},"excerpt":{"rendered":"
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