What would I need to know to rent out mainland?

[Kira Skydancer]

So, just in the beginnings of experimenting with being a land baron, lol. I've bought and sold a few properties, then overextended 'cause I got lucky both with abandoned land and auctions... So I'm thinking about setting my parcels to rent OR sell, just in case I can get tenants to help pay tier (lol).

I'm familiar with the Caspervend rent boxes (and strips) from when I rented... is there a guide, or can anyone offer advice, on what to be aware of as a landlord? How to set up the land About, things like that? Is there any market to rent empty land? I have plenty of houses I can use and all the properties already have abodes

What happens to renters if someone drops by and buys the land? Are there options to protect the tenant from insta-eviction? Or is that just one of the dangers of renting a "rent or sell" property?

What else do I need to know?

Pic is jut an example of one of the properties I'm considering renting out (if you are interested in buying it, it's in Diduga, in a nice rural area).

[Rabid Cheetah]

Maybe cancel the "for sale" status of the parcel as soon as it's rented?

[Feorie Frimon]

I love this! Good job! I’m doing the same thing - how’s it working out for you? 
 

I find that for sales, the parcels that seem to sell fastest are on the water or against the road. 

[Claireschen Hesten]

On 11/22/2021 at 11:10 PM, Kira Trafalgar said:

is there a guide, or can anyone offer advice, on what to be aware of as a landlord? How to set up the land About, things like that? Is there any market to rent empty land?

First off you should make any land group owned if you want your future tenant to have any about land rights, which i think i can see in your pic. Second create a group role for your tenants then go through and tick everything in the section(s) relating to about land. Definitely allow your tenant to add people to the ban list allowing them to control parcel access not essential i don't think. If i were looking for new mainland to rent i would want it empty for my needs. some people do like to have a house they can start decorating straight away

On 11/22/2021 at 11:10 PM, Kira Trafalgar said:

What happens to renters if someone drops by and buys the land? Are there options to protect the tenant from insta-eviction? Or is that just one of the dangers of renting a "rent or sell" property?

If you are trying to rent and sell at the same time that's not a good idea. Unless i could guarantee the land would be taken off the market once i started renting, I would not rent somewhere like this knowing the rug could get pulled from under me it's more than likely the new owner will want the land for themselves

[Kira Skydancer]

21 minutes ago, Claireschen Hesten said:

If you are trying to rent and sell at the same time that's not a good idea. Unless i could guarantee the land would be taken off the market once i started renting, I would not rent somewhere like this knowing the rug could get pulled from under me it's more than likely the new owner will want the land for themselves

I see a lot of the big land companies doing it, so I'm guessing there is a method they use. Probably just taking it off the market while rented.

[Kira Skydancer]

2 hours ago, Feorie Frimon said:

I love this! Good job! I’m doing the same thing - how’s it working out for you? 
 

I find that for sales, the parcels that seem to sell fastest are on the water or against the road. 

Yes, the ones that sold fastest had both land and navigable water access. Competing with the big companies bots is a challenge though in finding the well situated places.  I'm so far only selling land with road and/or water access. Current places are road only, and not selling as fast ( so far, bought six properties, sold three. I'm pretty small time, lol).

[Feorie Frimon]

30 minutes ago, Kira Trafalgar said:

Yes, the ones that sold fastest had both land and navigable water access. Competing with the big companies bots is a challenge though in finding the well situated places.  I'm so far only selling land with road and/or water access. Current places are road only, and not selling as fast ( so far, bought six properties, sold three. I'm pretty small time, lol).

Me too! I usually juggle 5 or 6 at a time. I buy up 1024 sqm parcels, build them out, and then resell them for $2,500 to $5,000 L. There used to be a few of us doing this - together maybe we will make a Baron. Lol

[Kira Skydancer]

10 minutes ago, Feorie Frimon said:

Me too! I usually juggle 5 or 6 at a time. I buy up 1024 sqm parcels, build them out, and then resell them for $2,500 to $5,000 L. There used to be a few of us doing this - together maybe we will make a Baron. Lol

How long does it usually take to sell one? I'm impatient and feeling like two weeks is too long, lol. I've been buying usually bigger parcels, but generally under 3000m2... Two that were bigger I split in half, then ended up selling as one property anyway

[Feorie Frimon]

2 minutes ago, Kira Trafalgar said:

How long does it usually take to sell one? I'm impatient and feeling like two weeks is too long, lol. I've been buying usually bigger parcels, but generally under 3000m2... Two that were bigger I split in half, then ended up selling as one property anyway

It takes about a week - but that’s only if it’s around $2500, next to a road, and listed for sale in world, on the marketplace, and on the forums here. 

[Kira Skydancer]

7 minutes ago, Feorie Frimon said:

It takes about a week - but that’s only if it’s around $2500, next to a road, and listed for sale in world, on the marketplace, and on the forums here. 

Mine are set for sale, on a road, and on marketplace... But nobody ever buys the lm. I set it up with help from another land reseller... What tricks do you use to make marketplace ads more enticing?

 

(Still need to do forum ads)

[Feorie Frimon]

11 minutes ago, Kira Trafalgar said:

Mine are set for sale, on a road, and on marketplace... But nobody ever buys the lm. I set it up with help from another land reseller... What tricks do you use to make marketplace ads more enticing?

 

(Still need to do forum ads)

Not much - honestly I think the forum ad and the ‘ in world’ listings are the big helpers. And a For Sale sign.  

I have an in world store, too with all of them listed there. 

[Prokofy Neva]

On 11/22/2021 at 6:10 PM, Kira Trafalgar said:

So, just in the beginnings of experimenting with being a land baron, lol. I've bought and sold a few properties, then overextended 'cause I got lucky both with abandoned land and auctions... So I'm thinking about setting my parcels to rent OR sell, just in case I can get tenants to help pay tier (lol).

I'm familiar with the Caspervend rent boxes (and strips) from when I rented... is there a guide, or can anyone offer advice, on what to be aware of as a landlord? How to set up the land About, things like that? Is there any market to rent empty land? I have plenty of houses I can use and all the properties already have abodes

What happens to renters if someone drops by and buys the land? Are there options to protect the tenant from insta-eviction? Or is that just one of the dangers of renting a "rent or sell" property?

What else do I need to know?

Pic is jut an example of one of the properties I'm considering renting out (if you are interested in buying it, it's in Diduga, in a nice rural area).

I personally think it's a bad practice to put land for sale AND also for rent.

Because there is the chance that someone will buy the parcel out from under a person who has paid the rental box, then the items will return to the original owner -- and problems can ensue.

Yes, some landlords who do this to get more visibility on the map -- there is no "for rent" on the map except in manual giant letters -- whereas there is a yellow "for sale" colour obviously. This gets heavily used because search is so broken and advertising is so crippled -- too much and too little opportunity for refined advertising. There's also no free press to be able to publicize bad actors. 

While you lose some advertising capacity by not putting land to sale that is also for rent, you make up for it in tenants who do not feel nervous, who do not get the idea of instability, that you might sell land out from under them at any time, and fail to log on to refund them their rent.

I think there is no substitute for learning by trial and error. Mainland rentals are a harsh taskmistress. You put out a house you love, and no one else does. Most people want the land to be vacant and put their own house -- except when they don't, and want your house, and want the prims not to count -- and for you to furnish it too.

It's hard to sanely offer all these differing variations especially if the holdings are small. So err on the side of empty parcels, with maybe a line on the land description that you will provide a house if needed. Or put a house, and say you will remove it if needed.

I personally do not wish to use Casper for many reasons, but whatever system you use, don't leave the info card blank or with "lorum ipsum" still on it. Write out simple advantages and simple rules and then provide a more detailed list after rent is paid. Decide the elevation of skyboxes (500 is a minimum I believe); policies about late rent and prim removal; whether there is a refund or a grace period, etc.

Then make the roles in the grouped land -- it is best to group land for rentals -- very clear as to their powers. Make sure the tenant cannot sell or parcel the land out from under you or put it in search or return builds.

[Maitimo]

I absolutely would not touch land for rent that was set for sale as well (unless I was the one actually buying). It would suck to pay up, set out all my stuff then log in the next day to find someone else bought it and I am now homeless.

 

[K9Mark]

All of my empty parcels are for sale or rent and when someone rents one I go there and take it off sale and remove my signs, and fences if they want me to, so there will never be a problem with land being sold while someone is renting it. I don't know of any landlords who would leave rented land on sale. That would be particularly stupid, and mean.

[Aethelwine]

Pretty much standard practice in Zindra and Blake Sea to set parcel for sale to advertise it is available for rent.

It does make finding rentals much easier you can browse the map for location of a rental you are interested in.

[Maitimo]

On 12/4/2021 at 1:35 AM, K9Mark said:

All of my empty parcels are for sale or rent and when someone rents one I go there and take it off sale and remove my signs, and fences if they want me to, so there will never be a problem with land being sold while someone is renting it. I don't know of any landlords who would leave rented land on sale. That would be particularly stupid, and mean.

What's the typical time for that to happen, if someone rents a parcel while you're asleep?

[K9Mark]

3 minutes ago, Maitimo said:

What's the typical time for that to happen, if someone rents a parcel while you're asleep?

When I wake up 🙂

Only a few hours and if that did happen, I could easily refund their rent and direct them to a few similarly sized and priced plots.