> How does the system decide which applicants out of multiple get the unit? Lottery? How does the system decide which units get rented first (so the owners get income) e.g. 3 identical units on the same floor, in the same building?
I don't know if I understand your question. We're talking about public housing, the owner is a public entity. For every building there are slots by income and they're filled by a FIFO system if you will.
I know in the US this is more difficult but in most euro countries the administration can check what you earn yearly. It's semi-automated already.
> With a sliding scale on price base on income, is there a price floor for the owner? E.g. low income tenant pays 500 euros, but the system guarantees 1000 euros to the owner so the system pays the difference?
The owner is the public housing company. No guarantee for anyone. There are different proposals, for me 20% for annualized income is simple & good enough, I wouldn't want to make it very complicated, but I'm sure it can be.
> Has supply increased with this system in Vienna? Why would say an invesntor take the risk of putting capital into apartments or condos construction with this system in place?
Overall supply did, but due to political factors the public housing system didn't expand at enough rate to keep up with demand.
I misunderstood and assumed all rentals in Vienna were under this system vs. only public ones. I do wonder if the city continues to provide supply, what the downward pressure on price will be for private units and if that eventually harms overall supply. I'm sure there's data on this somewhere, and I'll dig later today.
I don't know if I understand your question. We're talking about public housing, the owner is a public entity. For every building there are slots by income and they're filled by a FIFO system if you will.
I know in the US this is more difficult but in most euro countries the administration can check what you earn yearly. It's semi-automated already.
> With a sliding scale on price base on income, is there a price floor for the owner? E.g. low income tenant pays 500 euros, but the system guarantees 1000 euros to the owner so the system pays the difference?
The owner is the public housing company. No guarantee for anyone. There are different proposals, for me 20% for annualized income is simple & good enough, I wouldn't want to make it very complicated, but I'm sure it can be.
> Has supply increased with this system in Vienna? Why would say an invesntor take the risk of putting capital into apartments or condos construction with this system in place?
Overall supply did, but due to political factors the public housing system didn't expand at enough rate to keep up with demand.