You just described a housing cooperative. This form of collective ownership aligns owner and renter/home owner stakeholders as the same person and is a special form of consumer cooperative. Housing cooperatives are especially prevalent in the nordic countries. They keep prices down as they aren't owned by shareholders who want continuous profit. The problem with this style of firm is that they tend to dissolve after the tenets collectively pay off the property and seek to sell rather than maintain or expand the cöop. This occured after world war 2 in France as a bunch of post war building were quickly built and the coops that built them were dissolved.