There's an RP type on another Forum that's similar, we had a Community run GM rule. In which a vote system was used, though we've already knew most of the RPers on the board so it went rather well. And we handled everything like adults, so bickering was kept to a minimum. The plot for the RP was player driven with no actual GM. Ours was Faction based not location based. 

A idea like this though could work around a town or city in which the Tavern could be located. Allowing the RPers to go about their daily lives and convene for a night of relaxing or finding a room for the night.