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Can I propose my own governance vote?
Can I propose my own governance vote?
Max Ball avatar
Written by Max Ball
Updated over a week ago

Yes. All owners have the ability to propose their own governance votes to be voted on by other owners.

If you wish to propose a governance vote, please reach out to [email protected] with your governance proposal, and our team will send it to all property owners promptly.

Once a governance vote is decided, there is a 90-day period until the same governance vote can be proposed again. The exception is if there are material changes with the property within the 90-day period, E.g., Required repair costs exceed Operating Reserve balance or tenant eviction.

We are continuously improving our governance protocol. Token holders are the owners of these properties, not Lofty––which is why token holders have full control and voting rights on all properties.

In 2023, we will launch Governance 2.0 which will allow token holders to vote on-chain, as well as propose new governance votes within their Lofty dashboard.

The only exception is that owners cannot vote on things that are illegal. For example, in many states, it's illegal to not fix problems in a property that's causing it to be unlivable when a tenant is leasing it. If a pipe broke and the house was flooded, the PM by law has to fix the problem at the earliest possible time. The membership cannot vote to save funds and not fix a problem like this.

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