Should I rent on a Private Island?

Dear Residents,

I am considering renting on a Private Island, but the landowner says I have to buy the land, do you think this is a good idea or does anyone know of any reasons why I shouldn't do this?

Can you resell?

Hard to give you advice without knowing what the fee structure is, whether you have resale rights (it's not easy to resell estate land) and who the particular estate owner is.

QFT

there are plenty of great private island landlords out there that you do not have "buy" the land to begin with so IMO i would keep looking

Will you have full terraforming rights? what other rights are they offering for the upfront purchase?

If you research your potential landlord, speak to their other residents and are happy with those results and checked with the landlord that you have just RESEARCHED before pressing buy if resale is allowed and you can afford the price..

I see nothing wrong with it.

And there are those who are extremely reputable and you do have to "buy". Some of them have waiting lists for their land because of how extremely reputable they are.

By the way, I'm 99% sure the OP is taking the piss.

Yeah. Just clued into that. But some of us can't help but try to use this forum for what it was once intended for...you know, Resident Answers.

Exactly... but it seems people are wanting them penalized to?

Any estate owner worth their salt will not mind you talking to other resident of their land. I have a list of some that I consider trustworthy if you would like please send private message

Sent you an IM inworld as well about a nice plot next to mine. For rent at 2 linden per sqm with no upfront costs. If I were not waiting for an egg to hatch I would be able to tell you the exact size About 4800 or 4900 sqm as I recall.

Marcel

Perhaps. But others wondering the same thing will be looking for answers. If the estate owner is "absolutely, positively, irrefutably trustworthy" that is worth a price. Even a price up front. As is ability to "resell" (which really means ability to transfer your sub-lease).

But if the estate owneris not someone you would trust completely with YOUR money, "On estates, never buy, always rent" is just good, common sense.

Some owners just charge a small fee for you to move in,

Its really not the same to buying a comparable sized piece of mainland.

Thats quite a bit different than Landowners who are selling parcels specifically competing with mainland parcels.

Too bad there isn't a group like "League of Ethical Landlords"

I'm seeing people in tights and capes flying around estates...

But seriously, it would help those businesspersons with good ethics, and give others a reason to behave ethically... of course anyone caught with their hand in the linden jar would get booted.


It could be set up as sort of an anarcho-syndicalist commune. Members take it in turns to act as a sort of executive officer for the week, but all the decision of that officer must be approved at a bi-weekly meeting by a simple majority in the case of purely internal affairs, but a two-thirds majority...

you get the idea.

Nice idea but, as has been pointed out in other threads, too easily gamed in the "land of the alts"

Please check your messages!

Actually, I'm thinking of buying a SIM, it's a backwards question, I will rent for sure and was originally expecting to charge a lease fee, but I will only do that if the island environment is attractive enough, I guess a better up front question would have been "when is it right for a private island owner to charge a up front fee"?

Any time you can collect it. The question is not upfront fees or "purchase prices", it is the character of the estate owner as an estate owner. that is entirely up to you.

If you have fifty residents screaming at you and throwing $L at you to open a region... it's probably pretty low risk to start, and you can talk to everybody and decide what a fair upfront fee is.

If it's just you and a tumbleweed blowing by, well, odds are you won't be able to charge anything upfront at all.

* * * * *

It will probably cost you the full 1675 USD, plus the usual zero-pay part time job that is a single region rental.

It's the time that is the unwritten cost - 1675 USD is chump change compared to the journey that lies ahead for you.

Oh, you'll make a tiny bit if you work hard and get decent occupancy - with luck you will dig yourself out of the 1675 USD hole you dug for yourself within maybe a year. Unless things go wrong, in which case you could be deeper in by a few thousand. That 295 USD/mo is so automatically relentless, you see.

Dollars per hour, it will be the worst job you ever had - minimum RL wage will be a distant, shining star high in the heavens to aspire to.

I wish you the best of luck and a smooth, easy journey back out of the financial crater.

For you? With 17.5% VAT on your purchase? You want a second hand island for a start and as you can now buy those with the security of LL, you should definitely do that.

Desmond's interesting post points up a real practical problem: The earned reputation of the best estate owners becomes an effective barrier to entry for the new entrant into the estate owner and rental business. The new guy may be every bit as honorable, decent and well-meaning as the established crowd, but he has no reputation, and they do have one.

Problem.

There's no rule that says you have to charge up front to rent out estate land. It's just land like anywhere else; only you have more controls over it. I don't charge 1 red Linden in purchase fees to rent on my estate land, and you can rent as little as 1 week's worth. No problems here on my end; and very little risk on my tenants' end.

i know and understand that but to me it seemed like she was looking for one that didnt charge up front

every rental place ive had on both my characters was just renting land or renting a condo no up front buy in and ive always looked for ones like that

i make enough in game to cover rent but not usually buy in fees