Complete noob needs mass help with renting plans

[Deaneo]

Hi I am quite new too this game.

 

I liked the idea of the property market here and Thought I would just go all guns blazing and come straight in and buy some land (12000sqm roughly mainland). Well now I thought it might be time to ask some questions lol

 

I am using a plot of around 8ksqm and made a lil island and thought, hell lets make this a beach apartment complex. Great view, privacy mode, lockable doors and water all around. It was everything a girl could need. But now I have found myself in a dire stretch. Not only do I have lil if no clue on how to set most of the things I have bought up, but even worse I dont know market prices.

 

So 2 questions:

1) What would the market price be for an apartment. The apartments each have a Jacuzzi with animations, Youtube media viewers in 2 main locations, functioning kitchen with animations(will possibly be replacing with a dancefloor), a cuddle sofa with animations and obviously the essential seating/deco. Includes access to a beachside romantic pool with animations.

Advert Picture here

There is a penthouse with 2 floors and a pool upstairs. Any idea what the rental price is roughly?

2) Would it be a better business plan to just make Skyboxes as they seem lower prim and very populaur.

 

(P.s a side question since I am new to rental boxes is there a way to set permissions for a specific apartment so not just anyone can gain access?)

 

I am in serious need of help here. I thought everything was going as planned and then I hit this speed bump. So i was planning to have a whole region in 2 months but with my complete noobiness I think I jumped into a property market I have no idea about.

[Faithless Babii]

Im heading for bed or Id answer more fully...but one thought...appartment blocks have a major drawback for renters and that is privacy. Living on top of one another affords them none. For me that would be a major dampner ..no chat privacy...no cam privacy...they always seem a good idea but, they just arent.

[Knowl Paine]

Use the World Map to look for the value of properties in your Regional area. (comparative market analysis)

Study and understand the Second Land Pricing Fee's.

Know the L$ to U.S.D. exchange rate, check it weekly.

Pick your Customer. There are several types. fully furnished, no furnishings, landscaped with empty plots, group space at ground level with skyboxes, open rental on empty plots, premium, non-premium.

How do you get Traffic is a popular question. The answer is, you make it. Engage people, be sociable.

You might consider renting some of the land to a friend at cost, until you can get some renters, and get better organized. An ideal friend, would be one who is supportive of whatever theme you chose, and will work with you, in landscaping, terrain, object placement and plenty of other possible variables.

This can be a venture, there are risk. I would budget for a 90 day run. That is enough time to get organized, form some groups, place some ad's, find a group manager, and hopefully have a few Renters.

At the end of the 90 days, review your performance, and look for ways to improve.

You have a lot of competition, the Big Fish are usually the most quite. They won't be posting here, to offer you advice.

Set a budget (wager), and then do your part.

 

 

May the wheel turn in your favor.:smileyhappy:

 

 

 

[Amethyst Jetaime]

You probably won't have much luck renting out apartments for the reason already posted.  Privacy is a big priority with renters. 

You'd have much better luck with skyboxes above and a common beach area and community center on the ground for use by the residents.  Stack the skyboxes at various levels, preferably so they can't see another rental unit from there but no closer than 30m apart for chat privacy.

How much y ou can get varies widely.  Some rent for as little as 50L a week while other go for MUCH more.  Some factors that determine what you can get are

• The number of personal prims you allow each rental
• The size of the skybox and what funishingsand private amenities are included
• If they have a private outdoor area like a platform garden, a large balcony, roof garden etc
• Do they have pools and/or hot tubs
• Can the tenant control their own media and radio or has to listen to the media you set for the entire parcel
• How much lag is normal on the sim

Its hard for anyone to tell you the prevailing market prices without knowing a lot more than you have told us.  The best thing you can do is look up skybox rentals in search and go to them and see h ow much they ask, the size of their homs and  what features and amenities they offer.  Also pay close attention to how many are rented vs. how many are empty.  When you find some that are mostly rented then you have found some that are hitting the market with the right combination of price to features.  Just like RL you have to know who your competition will be and what their pricing is like BEFORE you plan yours out.

[Deaneo]

Done a bit of studying on the skybox market. Its hard to see how some of these peeps keep it running, but then again thats prob because of my 20% VAT thing.

 

I see alot of people using a rental box/telepad which locks once the place has been rented. Can anyone advise me how this is done or somewhere to buy this. I am hoping to have 40+ Sky Boxes up within the week as I have just bought everything needed. Plus a genius Idea is saw from someone who had pretty much all lots rented for 1 week+, i was lucky to find 2 sky boxes he had spare.

 

so can anyone reccomend a good teleport/rent etc as I want to get up and running ASAP