What is a fair rental price and covenant?

I do exactly what you are wanting to do with two sims...and believe me...a steeper initial price helps a great deal in who decides to come and stay. they feel much more invested and want to contribute to the look of the entire community and to work with their neighbors. we have had instances where some folks will build right up to the parcel borders, completely shutting off their neighbor's entrances etc. In the middle of lovely farmland we have had people put us amazingly ugly metal structures even tho we specifically state that things need to maintain the look and feel of the sim area.

I agree with many of the folks here...if you make the land too cheap people may not value it and will use it to just rez whatever is in their inventory as if it were a sandbox or junk yard. not everyone is into building. some just want their own space to do what they want.

i would also advise that you decide if they can terrafirm or not. i have had people make a 20M high narrow hill in the middle of their 1024m plot for apparently no reason. they have blocked up established streams, made big holes, etc. Most of that was because they were experimenting with terrafirming. very quickly we decided to ask them not to terrafirm because of the experiments lol.

just some things to consider from some folks in sl who have dealt with this in the past.

Fair is $L125 per week for a 512 and $L250 per week for a 1024 and L$ 500 for a 2048 etc etc...

Thanks Jojo, I will draw from your experiences I dont have to make every mistake on my own. I still would like to keep it cheap though. As long as I could find the right one (and I am sure I am not the only looking).

If you want to rent a few larger parcels (which I recommend, it's lots easier and the tenants don't turn over as fast), divide your available land that way to start with.

On private estates, rentals vary in the range L$1.55 to L$2.50 per prim per week, usually figured as a monthly fee. (According to my research recently when I was poking around looking for an estate parcel.

Key factors in your covenant.
- do you have an overall theme that will restrict buildings to a certain style?
- will you allow residential only, or commercial, or both?
- Minimum skybox height?
- do you allow terraforming, and what are the limits?
- do you allow subletting?
- do you permit the tenant to resell the parcel to another person?
- Do you allow banlines? Security orbs? If you do, put yourself on the access list!
- will your region be PG, Mature, or Adult?
- will your region require age verification?
- what's your policy on prim encroachment?
- what's your policy on too many prims?
- what's your policy on temp rezzers?
- what's your policy on privacy screens?
- when's the rent due, and is there a grace period, and how is it paid? (rental box, direct to you, etc.)
- what's your policy on refunds?
- what's your policy on weapons?

Thank you Lindal, that was very useful advice!
And I appricate the time to took to make the list of what to think about.

I will still follow Ninas advice to look around what other covenants have, but your list seem to cover most, so I will be sure to include that info.

$2 Lindens per prim is standard rental I think.

Don't charge much upfront if they have to 'buy' the land. If they can't keep it, they ain't bought it anyway. That amounts to a surcharge IMO.

For a convenant: I'd just go around and read other landlords' convenants and keep the parts you agree with.