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Tips for future land owner?


Angelfa Watkins
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Hello everyone!

I am considering buying a region eventually to rent out parcels and I have a few questions. First, what should I do to attract tenants? I'd like to make a themed region, with a few hang out spots. Is it realistic to expect it to pay itself eventually? How long would it take to get there? Any other tips?

Thanks in advance!

 

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I just responded in another similar thread...

The rental market isn't easy, but you can do well if you do it "better." Have a theme, and require that your residents adhere to it at least on the ground level. Provide "protected land" buffers which helps with aesthetics too. If you go with a rental group rather than assigning ownership, you can make the lots a little smaller and just play with prim allotments to help with this "buffer" space. Help your residents get setup - customer service is everything. Respond to issues quickly or you won't retain your renters.

I got my sim because mainland was so awful, and the landlord for the private sim I was on never responded to issues. If you are in it to make money, don't bother. It costs more than you make.

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I agree in some parts with both the previous posters. If you are going into the land business you have to do it because you want to do it for fun. You won't make money at it, but I disagree that you cannot break even. My suggestions are:

1: Have a theme. If you are just going to divide the region up into a bunch of beachy/tropical sand blocks you will have a lot of competion.

2: Understand how you get money in and out of second life. LL is going ot charge you in real dollars (or whatever currancy) when they charge you for your region. Most likely though, people will pay you in Lindens. You will need to convert those Lindens to cash to pay tier. LL charges a 3.5% fee on those transactions. Take that into account when you are pricing.

3: Understand lag and how it happens. If you have a really laggy region, people will not live there. Learn about things that cause leg, how to measure it, and what you can do to combat it. I will say that combining residential regions with event regions doesnt work. Events are laggy, and your residents wont like it.

4: Run the numbers, price the region right: Figure out how many prims you are going to hold back for public areas. Figure out how many you will rent and then start figuring out what you can charge per prim. Prices vary from 1.30's to over 2.00 per prim on private regions. If you are selling all 15,000 prims you can charge less and still break even...but your region wont have much theme.

5: DOnt buy your region from LL. There are lots of regions for sale and you can usually get one for about $300. Far less than the $1000 LL charges.

You can break even in land rentals if you have the right product at the right price with the right customer service. My region is full, with a waiting list. 

 

--sean

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