Advice on renting

[Marcury Jie]

Hi all, 

my first post here, so go easy on me, please.

I own a piece of the mainland with waterfront access, an unhindered sunrise view and just to the side is a little corner of Linden land which can't be built on, so the views are great. It's 4096M² with 1500 prims. I'm tired of paying so much for my tier, which is L$1595 a week, as I spend most of my time in my sandbox above my plot. Having looked around at renting, I can get a skybox with a decent prim allowance pretty cheap but it's an anti-social ball in the air and I feel I'm anti-social enough plus I'd miss my great view that I do look at occasionally. I thought of selling, then of subdividing and selling but am now thinking of subdividing and renting.

I have never done anything like this! I need your advice please, I'd be happy to split down the middle so we both have beach access, do I split the prims down the middle and if so how? I wouldn't want to go to less than 750 prims myself. What would you charge for this? 2048M², beach access, 750 prims-ish. I'm uncomfortable being a landlord and I'm not in this to make money but to cover some of my costs. Also would you advise getting a letting device to collect rent or to just have an arrangement with my tenant?

Any advice would be really appreciated.

Thanks

[Lillith Hapmouche]

If you go the landlord road, I would probably settle for a paid device, as you named it. Its time count is a bit more neutral than a personal dispute of "I paid you xyz L$ on day 123, that makes ## more weeks!" "No, you didn't!" ... that is, if you find anyone at all who might be interested in such sharing. Guess that'll be the most difficult part in this scenario.

But how about alternatives?

You got me a bit confused, saying that you own that plot, but that you pay weekly in L$? May I assume that the L$ number is just an illustration of the US$ 22 land fee split to one week? If you do in fact rent your plot from someone else who actually owns it, your "become a landlord" idea could easily conflict with your landlord's setup.

But I'll go on assuming that you are the one and only plot owner...

You could subdivide your plot and set that extra one for sale or even abandon it. That'll bring you down to your actually needed prims and space and if you offer the unneeded part as, say, two plots of 1024 sqm each, there is a chance that you might even get a bit of profit, due to the current interest in that plotsize.
That way, you'd be left with 2048 sqm and with your free 1024sqm tier allowance, you could (manually!) tier down to the USD 7.00/ month stage. Not sure about the prim allowance right now, if 2048sqm would cover your 750 prims need or be just below that...

Or you do some more maths...
First of all, deed (not set) your plot to a group of your own, with you and an alt of yours as the owners. Deed your available tier to the group. Group owned land gets a 10% bonus on its allowance for free. Let's gladly take that ... you either tier down to the free stage of 1024 sqm and donate that to your group, get the bonus to cover 1024 + 102 = 1126 sqm and you rent the remaining tier from a third party. Let's assume you'd keep your full plot of 4096 sqm, then you'd have tier for 2970 sqm (4096 - 1126) left to cover. The service I'm currently using charges 0.225 L$ per week per sqm. That'll be about 669 L$ per week in your case.
Those tier rentals add one of their alts to your landgroup and deed you the exact amount of needed tier. Pretty handy for odd numbers.

And last but not least, you can work out your numbers if you would make an alt of yours premium. Or two. Or three... use all the free tier and check if the weekly stipend pays out for an annual one-time hefty payment, assuming you'd pay the yearly plan for each account.

Personally, I'd pick the tier rental option.

[Marcury Jie]

Hi Lillith,

thanks so much for your very lengthy reply on my rather ambiguous post.

I've found out a couple of things, I do own the land and it is mainland, I'm paying the US $22 tier per month for 4096M². Your rental option intrigues me but I'm going to have to question you on certain aspects that you mentioned. As I've said, I've never done anything like this before, so it's going to be baby steps I'm afraid.

I do own a group, so I can deed the land to the group. Am I subdividing the land and deeding the 1024M² to the group? There are two checkboxes, one is... Allow deed to group, the other is... Owner makes contribution with deed, do I check one or both? You then talk of renting the remaining tier from a third party. When you say tier, do you mean the land? and who is this 3rd party? Very sorry I'm so stupid about this but it is all very new to me.

Thanks once again

[Lillith Hapmouche]

You have to think in separate terms ... the land mass being one aspect, the tier allowance another. Basic ownership covers the plot of land itself. Tier is much like upkeeping taxes which you as the land owner have to pay. Does that make sense?

If I recall correctly, based on what's recently been written on these boards, "Owner makes contribution with deed" directly assigned your tier level to the group. In your group's info profile, check the "Land & L$" tab for detailed info on what's currently assigned to the group. There, you can also change the amount, like lower it wen you tier down or such.

I know of two such tier rental providers, both post on here quite regularly... look up Elanthius Flagstaff or beethros Karas inworld, if you're interested in those services.

There are a ton of helpful threads here lately, due to the recent changes for Premium users. Do take lots of time and carefully read, as a general advice... mistakes can be rather expensive in this field.

[LittleMe Jewell]

6 hours ago, Marcury Jie said:

 There are two checkboxes, one is... Allow deed to group, the other is... Owner makes contribution with deed, do I check one or both?

You would check both. The group must have enough tier to cover the parcel before the land can go into the group.  If you simply went to the group and added enough tier manually before deeding the parcel, then your actual tier costs would go up -- because you have tier in the group and you are personally using some for the parcel(s) not yet in the group.

When you deed it along with 'owner makes contribution', the transaction pulls however much tier is needed for the parcel from your personal usage and assigns it to the group at the same time that the land transfers.