Cisco – OS be upgraded on a Cisco Catalyst 6509 switch without downtime

Looks like you need a IOS upgrade.

See table 3 here.

This strikes me as the wrong way to handle traffic shaping in your environment -- you are effectively limiting an unlimited resource (internal bandwidth - on your local switches) to try to prevent exhausting a limited resource (upstream bandwidth - on your DSL line).

Your router (or barring that, a decent router/firewall appliance like pfSense) should probably be doing the traffic shaping. You can assign each unit/owner an IP or subnet, limiting them to a proportionate share of the total bandwidth but letting them borrow from other queues (See http://www.openbsd.org/faq/pf/queueing.html and read about the "borrow" keyword - handy feature!).
As a bonus if you take this route your more tech-savvy residents can share files with each other at wire speed since the switch ports won't be restricted.

A Cisco expert may be better able to advise you on how to set that up for your environment/hardware, or how to accomplish what you're asking for with your existing hardware if possible.