Q: How much per a Prim is rentals on Mainland?
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Oni Dae
Registered User
Join date: 22 Mar 2007
Posts: 24
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01-13-2010 15:15
a friend has put me in charge of renting out his sim to a few certian people, and I wanted to know the average lindens per a prim renting costs so I can make sure im not putting it too high or too low.
I'll be averaging it out depending on how many responses I get.
please help?
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Talarus Luan
Ancient Archaean Dragon
Join date: 18 Mar 2006
Posts: 4,831
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01-13-2010 15:20
Well, most people base it on plot size, though prim count is directly proportional to that: 15,000 prims per 65,536 sqm.
Outside of that, you have to price it based on several factors, the first and foremost is the tier cost to your friend, and the cost that would otherwise be paid in tier if someone paid LL for it. Also, whether the plot is bare or furnished, what sim amenities you provide, etc.
The trick is picking a value that is greater than your cost, but still less than the cost if they went direct to LL, and still competitive with other mainland rentals. Also, add in the value of any other bonuses you provide.
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Oni Dae
Registered User
Join date: 22 Mar 2007
Posts: 24
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01-13-2010 15:54
well the rentals are going to be on floating islands ranging from 1k meters in the air to 4k meters since the ground is rather laggy due to neighbors. We're renting to RPers only to create a sort of neighbor hood and theres hang out area's and our biggest renter so far has an open house to RPers so people can visit them etc.
Its on mainland and so far people have loved it and been wanting to rent but I wanna give them a fair price etc.
Our goal isnt really to get the full tier cost just to get most of it out of the way since my friend has been paying for an empty sim for nearly a year and doesnt want to give up the land so we're offering cheap rentals, and also a vendor mall to friends that dont have to pay rent and just are doing split script vending.
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VonGklugelstein Alter
Bedah Profeshinal Tekstur
Join date: 22 Dec 2007
Posts: 808
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01-13-2010 16:55
About 1 L per prim per week
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Jenshae Werefox
T-ease
Join date: 3 Mar 2009
Posts: 376
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01-13-2010 18:36
There are variables. If you make it more exclusive 4 - 6 people and take the time to fine those who value privacy (going off the full sim thing, I am assuming it is a stand alone sim) will pay more for that.
If it is main land, then try and draw a happy medium. Shop rentals, I have seen L$50 for 17 prims per week with the price going inversely proportional to the prims from there. I think it was about L$150 / 100 prims and L$ 175 / 200 prims. They are also very active in pulling people with a club sim and other social traffic.
For home rentals, I have seen L$750 - 1000 for however many are on 512m2
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Bec Sadofsky
Yup it's Iowa
Join date: 8 Jan 2008
Posts: 535
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01-13-2010 21:29
From: Oni Dae a friend has put me in charge of renting out his sim to a few certian people, and I wanted to know the average lindens per a prim renting costs so I can make sure im not putting it too high or too low.
I'll be averaging it out depending on how many responses I get.
please help? Will they be able to do landmarks to the exact place? That is another question.
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Oni Dae
Registered User
Join date: 22 Mar 2007
Posts: 24
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01-13-2010 23:24
lost my connection and am back now.
Residents will be able to set home there, its residental only and we will not be allowing clubs, shops are being rented out seperately from the residental area in a small mall like area, and if someone wants to put down their own shop they will have to fit themselves into the teleport area.
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Melita Magic
On my own terms.
Join date: 5 Jun 2008
Posts: 2,253
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01-14-2010 00:33
2L per prim per week seems average for those who make enough to stay in world a while.
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Lindal Kidd
Dances With Noobs
Join date: 26 Jun 2007
Posts: 8,371
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01-14-2010 08:53
Melita nailed it. VonG's figure of 1L/prim/week is far too low to be sustainable.
Tier on Full Region $195 USD/mo = $L11,925/week
which works out to $L0.795 per prim per week.
However...you probably have some community property prims out, which means you can't rent out all 15,000 prims. You also will have a vacancy factor to consider, times when a plot isn't being rented. And you would like to recover the purchase price of the land eventually, and pay for your ongoing costs like advertising, and make a profit for your efforts.
If you own less than a full region, you'll pay a higher tier, on a per-prim basis. That makes it harder to compete with people who DO own a whole region or more.
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Cristalle Karami
Lady of the House
Join date: 4 Dec 2006
Posts: 6,222
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01-14-2010 09:22
I was tempted to say something like, 12.
Look, if you can't do the basic math for running the business, you should not be in business. I am not being catty, but I'm really tired of hearing people complain about businesses going under and then residents getting shafted, their stuff not returned, and then having to go to LL to get the island opened so they can get their things. Having someone who doesn't understand the business run it into the ground is not wise. This business isn't for everyone.
As Dirty Harry said, "a man has to know his limitations." If you don't have the business sense to figure out what it takes to be profitable, this isn't the role for you. You can do something else.
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Affordable & beautiful apartments & homes starting at 150L/wk! Waterfront homes, 575L/wk & 300 prims! House of Cristalle low prim prefabs: secondlife://Cristalle/111/60http://cristalleproperties.info http://careeningcristalle.blogspot.com - Careening, A SL Sailing Blog
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Jenshae Werefox
T-ease
Join date: 3 Mar 2009
Posts: 376
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01-15-2010 21:33
People have different skills, my mathematics and matrix reasoning is only of a superior level while some aspects of logic are very superior. (Weschler III) Thus, I use my strength to get by in programming and compensate for my weaker skills.
You don't need a head for mathematics in a business, if you are a people person and good at judging who you can trust. Then you know the right questions to ask and can always get an accountant. Those same people skills could be great for working out how to resolve an issue between neighbours or politely tell someone they can't do something without them getting in a huff and moving out. They may also be just the right skills for getting those people in the first place ...
... and they didn't necessarily chose this role. "A friend put me in charge."
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Lissa Fimicoloud
Registered User
Join date: 29 Jul 2007
Posts: 75
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01-15-2010 21:46
The way I rent is to charge per prim, but I'm not trying to make money in SL, just have fun. So I take the prim cost (15,000 / 295 [private estate] ) and multiply by 1.10. That's only a 10 percent markup and doesn't even START to cover the costs of the prims the tenants don't own (I own the houses and the tenants only pay for what they rez). For a mainland intending to recover costs but not profit, I'd use the 10 percent markup, but not supply the house - so the resident basically pays the costs of the prims that they use, plus the cost of the landscaping prims you use (like waterfalls, trees, etc) and still get a good deal.
ETA: If you want to actually make money, probably have to use a 20-25 percent markup to cover the costs of the unused prims in a high-demand area (even more in a low-demand area where you might be 50 percent empty a lot).
ETA 2: and I probably did the math wrong - it's late on a Friday. I think the right is 295 / 15000 to get the cost per prim
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Bec Sadofsky
Yup it's Iowa
Join date: 8 Jan 2008
Posts: 535
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01-15-2010 21:50
From: Cristalle Karami I was tempted to say something like, 12.
Look, if you can't do the basic math for running the business, you should not be in business. I am not being catty, but I'm really tired of hearing people complain about businesses going under and then residents getting shafted, their stuff not returned, and then having to go to LL to get the island opened so they can get their things. Having someone who doesn't understand the business run it into the ground is not wise. This business isn't for everyone. I realize your not trying to be "catty" but well it came across that way. The OP asked a quesiton. And this is the place to ask before all the assorted as you stated happens isnt it?
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