Petepirate2 Posted January 1, 2018 Share Posted January 1, 2018 I am very new to this but want to invest in the renting of houses to other players. Its a quick way to make some good, easy cash and I want to buy premade houses and rent them to other people. how do I do this? 1 Link to comment Share on other sites More sharing options...
Nalytha Posted January 1, 2018 Share Posted January 1, 2018 (edited) Don't do it. I'm not going to bother listing why, because an army of other forum users is about to do it for me. Edited January 1, 2018 by Nalytha Grammar 3 Link to comment Share on other sites More sharing options...
Petepirate2 Posted January 1, 2018 Author Share Posted January 1, 2018 Just now, Nalytha said: Don't do it. I'm not going to bother listing why, because an army of other forum users is about to do it for me. I don't see why not I will buy a house someone is selling and rent it out Link to comment Share on other sites More sharing options...
Alwin Alcott Posted January 1, 2018 Share Posted January 1, 2018 25 minutes ago, Petepirate2 said: I don't see why not I will buy a house someone is selling and rent it out it's not that simple... the houses in SL are normaly sold for own use, not for commercial rent out, be sure the seller/ creator agrees to it. Also you need land... lots of it... and how you going to finance that?, also when you have only a 25% occupancy? Are you going to terraform the land? What do you give as more value to their L$ than others?...landscaping, service, prims, support? Also.. are you cheaper with the land and house than when they buy or rent somewhere else? how are you going to advertise? how you organise your support? what rental system? 1 Link to comment Share on other sites More sharing options...
Petepirate2 Posted January 1, 2018 Author Share Posted January 1, 2018 3 minutes ago, Alwin Alcott said: it's not that simple... the houses in SL are normaly sold for own use, not for commercial rent out, be sure the seller/ creator agrees to it. Also you need land... lots of it... and how you going to finance that?, also when you have only a 25% occupancy? Are you going to terraform the land? What do you give as more value to their L$ than others?...landscaping, service, prims, support? Also.. are you cheaper with the land and house than when they buy or rent somewhere else? how are you going to advertise? how you organise your support? what rental system? No need to think of any of that i will just buy land with real money get a house and rent it out No need to overthink things 4 Link to comment Share on other sites More sharing options...
Nalytha Posted January 1, 2018 Share Posted January 1, 2018 Just now, Petepirate2 said: No need to think of any of that i will just buy land with real money get a house and rent it out No need to overthink things As someone who has been renting and buying land in Second Life for years, I can tell you this attitude will do you no favors. There's no way I'm buying or renting from some inexperienced user who has none of the things other land owners have to offer. 4 Link to comment Share on other sites More sharing options...
Alwin Alcott Posted January 1, 2018 Share Posted January 1, 2018 1 minute ago, Petepirate2 said: No need to think of any of that i will just buy land with real money get a house and rent it out No need to overthink things no need?... well forget your quick cash.... 3 Link to comment Share on other sites More sharing options...
Cindy Evanier Posted January 1, 2018 Share Posted January 1, 2018 15 minutes ago, Petepirate2 said: No need to think of any of that i will just buy land with real money get a house and rent it out No need to overthink things 53 minutes ago, Petepirate2 said: how do I do this? By overthinking everything in order to be prepared for every eventuality. Why ask if you don't want to listen to replies. Do your homework. Check out what your competitors offer is your first step 2 Link to comment Share on other sites More sharing options...
Alwin Alcott Posted January 1, 2018 Share Posted January 1, 2018 19 minutes ago, Petepirate2 said: No need to think of any of that i will just buy land with real money and to make it easier you forget you have to pay monthly Tiers or Weekly Rents too?....also when you have no renters at all? Your land is never one buy and never costs again... Link to comment Share on other sites More sharing options...
LittleMe Jewell Posted January 1, 2018 Share Posted January 1, 2018 1 hour ago, Petepirate2 said: Its a quick way to make some good, easy cash 1 4 Link to comment Share on other sites More sharing options...
MoiraKathleen Posted January 1, 2018 Share Posted January 1, 2018 (edited) 2 hours ago, Petepirate2 said: No need to think of any of that i will just buy land with real money get a house and rent it out No need to overthink things I can buy land with real money and get a house to put on it also. What are you going to do to your land and/or house, to make renting from you a better deal than me buying my own land (or than me renting from someone else)? There is no shortage of land to be bought or of places to rent, so yes, you do need to think this through. You might want to spend some time looking at land that is available to buy - what it's purchase price is and what the cost will be to you every month in tier. Also look at the rentals available - with or without houses - and what the rental rates are, what amenities are offered, what landscaping they have, how many are vacant, and so forth. Then decide how you can compete with what's available. In order to make money, you will need to bring in more than what your tier cost will be each month, and it may take time before some rents an available rental. Edited January 1, 2018 by moirakathleen added some more Link to comment Share on other sites More sharing options...
Chic Aeon Posted January 2, 2018 Share Posted January 2, 2018 5 hours ago, Alwin Alcott said: it's not that simple... the houses in SL are normaly sold for own use, not for commercial rent out, be sure the seller/ creator agrees to it. OK. I had to reply to this statement. I don't know of any home builder (including ME) that only sells houses for personal use. Can you site a builder or two please? That is an insane idea IMHO! 1 Link to comment Share on other sites More sharing options...
iamyourneighbour Posted January 2, 2018 Share Posted January 2, 2018 (edited) The key is to use mainland Get tons of alts, sub them to premium, and let them donate to your group. The cost per 512sqm per month considering repatriated linden sales of stipend will be about 45 cent per month, and by donating their tier to group you get 10% bonus, which gives 563 sqm per alt. Hence renting land out becomes highly profitable even at 1 linden / 2 prim since you only need to have an income of 44L per week per alt to break even(175LI/2/4). At a wholesale worst rate you can collect 90L per week with minimum monthly income of 220L. However, downside is that you either need to consolidate the alt stipends, either via script or manually. Skybox is the most profitable way, but also the least creative. Also, automate them with casperlet. Best 2000L I have ever spent in SL. If you want to know why I am not owning the whole continent if that's the case, there are more profitable endeavours IRL. Making profit in SL is just that nice side dish to have for me , it is like playing the Sims with tangible cash. Depending on your tax jurisdiction, this can be a tax saving maneuver but I won't go into details. Edited January 2, 2018 by iamyourneighbour Link to comment Share on other sites More sharing options...
iamyourneighbour Posted January 2, 2018 Share Posted January 2, 2018 24 minutes ago, Chic Aeon said: OK. I had to reply to this statement. I don't know of any home builder (including ME) that only sells houses for personal use. Can you site a builder or two please? That is an insane idea IMHO! Never heard of that neither. Lol. Link to comment Share on other sites More sharing options...
Callum Meriman Posted January 3, 2018 Share Posted January 3, 2018 On 02/01/2018 at 6:24 AM, Petepirate2 said: Its a quick way to make some good, easy cash No, it's not. It's a lot of hard work, the profits are tiny, and you will likely make a loss for a long time. Link to comment Share on other sites More sharing options...
Callum Meriman Posted January 3, 2018 Share Posted January 3, 2018 22 hours ago, Chic Aeon said: OK. I had to reply to this statement. I don't know of any home builder (including ME) that only sells houses for personal use. Can you site a builder or two please? That is an insane idea IMHO! One of the big builders (If my memory serves me correct he has 2 sims of homes on display) does this with a notecard in his box that says it's not for commercial use. It asks that land barons contact him for a commercial, rental version. I was quite surprised when I read it, and then promptly ignored it. My tenants couldn't operate the home controls, but meh. If I remember, I'll dig out the exact wording on the notecard when I can log in tonight. Link to comment Share on other sites More sharing options...
Chic Aeon Posted January 3, 2018 Share Posted January 3, 2018 31 minutes ago, Callum Meriman said: One of the big builders (If my memory serves me correct he has 2 sims of homes on display) does this with a notecard in his box that says it's not for commercial use. It asks that land barons contact him for a commercial, rental version. I was quite surprised when I read it, and then promptly ignored it. My tenants couldn't operate the home controls, but meh. If I remember, I'll dig out the exact wording on the notecard when I can log in tonight. OK. I believe ya. Just saying that is NOT the norm and having a notecard in the box isn't exactly "binding" just like not putting up your EULA on the Marketplace or inworld for full term builders. This has been discussed many times so no need to go there again. From your description it seems like there are different versions for the scripting. I know of some home builders that give out "the rental" version as the norm. Most of the folks I hang around with don't get THAT fancy LOL. Link to comment Share on other sites More sharing options...
Bobbie Faulds Posted January 3, 2018 Share Posted January 3, 2018 You're way too late to get in on making money renting. That time came and went. Most landowners struggle to keep their rentals full. You must have been reading some old articles talking about Anshe Chung and the money she made. Even she has downsized and isn't making that kind of money anymore. You can't charge the kind of rent you used to be able to charge. People aren't willing to pay what they did, especially if they are premium members and get the free Linden homes. With private sims and the huge amount of mainland available, it's very hard to be profitable renting. Good luck Link to comment Share on other sites More sharing options...
Gage1991 Posted January 4, 2018 Share Posted January 4, 2018 I recently bought some mainland plots to rent out, in my opinion they are lovely plots, perfect locations, amazing views, and I thought someone would surely want to rent them. I have even offered the plots with or without a nice house and with full land controls for the tenant. I charge 1L$/prim. So for my 700 prim lot I charge 700L$ a week. I use Casperlet, and I have placed ads in loads of places in world, and on the forums here, and places ads in the classifieds. I have had hardly any interest and not yet managed to rent out any of my plots, as it stands I have spent quite a bit on buying the plots, the casperlet system, houses, ads, plus the monthly land tier and I haven't actually made any profit at all. I would say that although it seems like a great and easy way to make money it isn't. I am literally making a loss, I am paying land tier each month for plots which no ones renting and which are just sat there not being used. Itis really time consuming too, getting the plots ready to be rented out, creating your ads, writing up the notecards, I have travelled all over the place in world to find good places for ads, I have invested hours upon hours and am yet to make a penny, I am not doing it to get right I just want to cover the land tiers really now. I am sure you CAN make money and be successful but you'd need to make sure your occupancy is always high enough to cover your land tier, and there's so much choice out their for tenants it is really hard to attract people to rent your plots, plus the bigger companies/groups seem to be top of ads etc in classifieds so it is hard even to get your ads seen. 2 1 Link to comment Share on other sites More sharing options...
Nalytha Posted January 4, 2018 Share Posted January 4, 2018 Gage, sorry to hear it isn't working out for you. I know it must be disheartening to put that much time into something. Thank you for sharing your experience though, I really hope it helps others. On top of all the other troubles you mention, you didn't even make it to the time consuming issues that come with tenants and all the customer service that goes into that. SL can be tricky, and I can only imagine how often land managers are contacted with issues renters face. To me, I'd rather do something irl to make a few bucks to spend on lindens than to deal with the incredible amount of time that goes into things like these businesses. 3 Link to comment Share on other sites More sharing options...
Prokofy Neva Posted January 18, 2018 Share Posted January 18, 2018 (edited) On 1/1/2018 at 2:24 PM, Petepirate2 said: I am very new to this but want to invest in the renting of houses to other players. Its a quick way to make some good, easy cash and I want to buy premade houses and rent them to other people. how do I do this? Having been in the rentals business for more than 12 years, I would say you need these basic elements: 1. At least 4096 m of land - it's hard to do it for less. 2. Grouped land to have more freedom with prim allocation and get the 10% discount on tier -- use two alts to hold your group together. 3. Mainland you purchase and pay tier to LL, because few island owners will want you competing with their own rental business by buying/renting their land and subletting it. 4. A free rental script (I have them in my store) or shop around to find the features you want but don't spend a lot in the beginning. 5. Go to merchants' events to get the discounted new mesh houses -- you can get wonderful houses for $188 at Collabor88 and often under $500 at other events. Again, get something nice that doesn't date from 10 years ago out of a freebie bin, but don't overspend. MAKE SURE THESE HOUSES HAVE PRIVACY FEATURES -- tintable windows and lockable doors. This is very basic and don't try to rent without this. 6. Put the lots in "search/places" because that's where people look for them. Also use the "land for rent" function but I think that gets less use. 7. Run some ads using classifieds. Put an ad on the MP. 8. Be prepared to spend some time on customer service 9. Allow at least some portion of the land to be a commons with something pretty on it so it doesn't feel crowded. Maybe provide some little activity like fishing. 10. Decide your policies on security orbs, skyboxes, and pets. Edited January 18, 2018 by Prokofy Neva Link to comment Share on other sites More sharing options...
Prokofy Neva Posted January 18, 2018 Share Posted January 18, 2018 On 1/1/2018 at 9:04 PM, iamyourneighbour said: The key is to use mainland Get tons of alts, sub them to premium, and let them donate to your group. The cost per 512sqm per month considering repatriated linden sales of stipend will be about 45 cent per month, and by donating their tier to group you get 10% bonus, which gives 563 sqm per alt. Hence renting land out becomes highly profitable even at 1 linden / 2 prim since you only need to have an income of 44L per week per alt to break even(175LI/2/4). At a wholesale worst rate you can collect 90L per week with minimum monthly income of 220L. However, downside is that you either need to consolidate the alt stipends, either via script or manually. Skybox is the most profitable way, but also the least creative. Also, automate them with casperlet. Best 2000L I have ever spent in SL. If you want to know why I am not owning the whole continent if that's the case, there are more profitable endeavours IRL. Making profit in SL is just that nice side dish to have for me , it is like playing the Sims with tangible cash. Depending on your tax jurisdiction, this can be a tax saving maneuver but I won't go into details. I think you've never heard of the horrible brutality of rentals math and the vacancy issue. Link to comment Share on other sites More sharing options...
iamyourneighbour Posted January 18, 2018 Share Posted January 18, 2018 5 hours ago, Prokofy Neva said: I think you've never heard of the horrible brutality of rentals math and the vacancy issue. My city's fully rented already Link to comment Share on other sites More sharing options...
Prokofy Neva Posted January 18, 2018 Share Posted January 18, 2018 (edited) 4 hours ago, iamyourneighbour said: My city's fully rented already That's nice. But that isn't the point. The point isn't that somebody's anecdotal singular use case of rentals are rented. But that the law of vacancy means harsh diminishing returns. That law didn't go away just because of your experience now. See the Brutality of Rentals Math. In the early days, for years, the Lindens had a rule: only 5 accounts per real person. So I have abided by that rule. They used to ban or stop you from making ever new accounts with the same payment form. I don't know if they still do that. In the early days, I put lots of alts in lots of groups for another reason -- to hold the groups together as they required 3, not 2 as today, and they had that awful "officers' recall" problem. Philip Linden himself came to me in person and asked me in puzzlement why I had so many groups and so many alts. I had to explain to him that it was the only way to overcome his hippie commune group tools. Eventually he began to change those tools as the new phenomenon of land rentals -- which he himself pushed! -- forced them to. Cory Linden once told me that this blog post of mine explaining the reality of their insane group tools persuaded them to reform them. I personally think maintaining legions of alts is not a good business practice and leads to customer doubt and confusion. After the purchase of one sim worth of land ($195) the tier price then goes down slightly so adding the cost of a premium account to the rentals business makes no sense. Edited January 18, 2018 by Prokofy Neva Link to comment Share on other sites More sharing options...
Prokofy Neva Posted January 18, 2018 Share Posted January 18, 2018 On 1/4/2018 at 1:06 PM, Gage1991 said: I recently bought some mainland plots to rent out, in my opinion they are lovely plots, perfect locations, amazing views, and I thought someone would surely want to rent them. I have even offered the plots with or without a nice house and with full land controls for the tenant. I charge 1L$/prim. So for my 700 prim lot I charge 700L$ a week. I use Casperlet, and I have placed ads in loads of places in world, and on the forums here, and places ads in the classifieds. I have had hardly any interest and not yet managed to rent out any of my plots, as it stands I have spent quite a bit on buying the plots, the casperlet system, houses, ads, plus the monthly land tier and I haven't actually made any profit at all. I would say that although it seems like a great and easy way to make money it isn't. I am literally making a loss, I am paying land tier each month for plots which no ones renting and which are just sat there not being used. Itis really time consuming too, getting the plots ready to be rented out, creating your ads, writing up the notecards, I have travelled all over the place in world to find good places for ads, I have invested hours upon hours and am yet to make a penny, I am not doing it to get right I just want to cover the land tiers really now. I am sure you CAN make money and be successful but you'd need to make sure your occupancy is always high enough to cover your land tier, and there's so much choice out their for tenants it is really hard to attract people to rent your plots, plus the bigger companies/groups seem to be top of ads etc in classifieds so it is hard even to get your ads seen. I would say that the harsh reality is that since Linden inflated prims value with the 50% increase, which has its plusses and minuses, you cannot charge $1/1 prim in new, lower-end and Mainland markets. You have to charge 0.66/prim now to attract customers. Because I've been in business a long time and have a customer base, I can get away with $1/1 prim. But most areas have to come down to .86 or .90 a prim if not lower to stay full. Again, somebody who has an anecdotal experience of a city on Bay City or whatever can't grasp what are the facts here, which I see with land across 50 sims. It's a depressed market in which only intensive sweat equity or special niche offerings will work. Link to comment Share on other sites More sharing options...
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