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PitbullTheDog

Wondering If People Will Pay 500 a Week For 512sqm of class 5 per week?

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Starting a Rental Business, Wondering If People Will Pay 500 a Week For 512sqm of class 5 commercial per week?

 

Is this good? or what should i be aiming for, pricewise to charge renters?

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Patience is a virtue.

 

Purchase only as much Land as you can afford to sustain. The race is long, and establishing a comfortable permanence in the Market, will allow you to endure times of hardships, and prosper during times of growth.

 

You know what your cost are, divide the Land into as many parcels as are required to pay the Tier. Any additional plots, represent potential profit.

 

Realize that 100% occupancy is a rare event, factor that into your pricing.

 

The name you select for a Region, can greatly effect the types of Residents the name will attract.

 

Second Life can be a place where you have to Hurry Up, and Wait.

 

I suggest you consider hiring a Land Manager.

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Dear PitbullTheDog:

The answer is "It depends" -

It depends on the supply of similar parcels; and

It depends on the demand for this type of parcel.

I think the old saw is "You can charge what the market will bear.."

If you look at land sales, for example, you can see that prices vary tremendously.  There is plenty of land available at the "Abandoned land" price and lower, yet people will continue to pay more than that if they want a particular parcel.

I would suggest offering a few parcels of land for rent and seeing what happens. Good luck!

 

 

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You need to use search to find out who else is renting lots that size, what they are being rented for and what, if any, special features they have. Also look at other rentals available for 500L.  A quick five minute look at the classifieds showed me 512's going for as little as 330L a week.  I can also rent a fully furnished home on a larger lot for 500L too.

A person looking to rent a 512 lot only has so much to spend.  If I were in the market for one , I wouldn't pay 500L as there are cheaper lots around. If I had 500L for rent, I'd go for one of the homes on a bigger lot.  However there are exceptions.  If it were waterfront property on a sailing sea, you might get it.

Lastly you are going to be competing against Linden homes which are homes on 512 lots that come with 117 prims in ADDITION to the house. These homes are free with a premium membership.   A premium member paying monthly is spending approximately 621L a week, BUT they also get 300L of that back in stipend.  So they basically can get a linden home for 321L a week.  Tough deal to beat. Personally, if I were you I'd make the lots larger, say 1024 and 2048.  You will probably have better success.

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As the amazng Amethyst Jetamine was saying, there are many other great deals out there.

http://community.secondlife.com/t5/Parcels-for-Rent-Mainland/Beautiful-LUXURY-HOME-with-Customizable-Zen-Garden-Only-L-599-w/td-p/1693269

I came across this land for example that is 1,472 m with a pool, house, tiki bar and jacuzzi going for only 599/w. This type of deal is rare but it goes to show that in a place like Second Life where competition is thick, highly competive pricing and patience are two keys to success.

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First off, if you're going into the rental business, you don't set the price for your lots according to their size but according to their prim count.

Mainland rentals are about 1L - 1.2L per prim. Sure, some charge more but mainland overall isn't that appealling, so hardly people would pay more than that, unless as it has been mentioned before, the land is adjectant to sailable seas.

On a private sim land goes for about 1.4L - 1.5L, everything above is considered (and I do consider it like that, too) overpriced, unless there's some seriously awesome landscaping going on or extra prims attached or whatnot.

Renting parcels is a VERY competetive business and at the end of the day, the majority will go for the cheaper parcel simply because that enables them to spend the leftover L on other things. Why would you pay $100 for a pair of jeans when you can have an incredibly similar pair for only $50? Y'know?

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The short answer is no.

The longer answer is: Maybe, if you're renting out a few shops in a very busy role-play sim.

Also, you probably don't want to say that the sim is Class 5. It means next to nothing anyway, and even less to somebody renting less than 1% of the sim.

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