Sim owners. landlords. buyers and renters?

hello everyone. ive been in sl for about a yr and a half. i have rented island plots from private island owners. and i want to get into being the landlord and renting but not sure how to go about it.. i was at a private island and there was a landlord that is renting out cabins and what not.. some weekly some monthly. but it goes deeper.. if i was to rent from her i would be paying her . then she pays the sim owner? is this correct? and if so what are the ranks ? is it renter, landlord. sim owner , then linden lab? does it go in that order? i wanna eventually get to the top of the food chain.. witch i know doesnt go further then linden lab itself but could some one explain how it works and can some one like me jump right in at the top of the chain or do u have to work your way up the ladder so u understand how it all works.. again i have rented a plot of land but only private estates..also is a region the same as a sim? or is there 4 regions in a sim ? i just wanna know it all i guess so when i make the plunge i dont say ..... ohhhh nooooo what did i do

region == sim
buy a region, if it's an island you can "sell" the land to people who rent from you
if it's mainland, you can put up little boxes so people can pay you rent. If you sell mainland, it's gone. If you sell land on an island, you still own it.

so if i buy a region then i can sell it to tenents? and give them premissions but i have control to evict them if they do wrong. and they dont truely own the land when i sell it to them . right?

also how much is a region or a sim? does it very ? and it seems like that would be the way to go as far as making profit off it cause u dont do the work that the landlords do . like going after tenents?

If you want to start small, you would purchase one or more parcels on the Mainland, and set up rental boxes like the HippoRent system, so others can rent those parcels from you. They pay the boxes, which pays money to you. In turn, you pay the initial purchase price to whoever you buy the parcels from, and pay Linden Lab a fixed-rate fee for the land, whether you have anyone using it and paying you or not. How much you pay LL depends on how many square meters of land you own on the Mainland. In this setup, you never actually SELL the parcel to the renter, because once you do that, it is theirs, not yours, and you no longer control the land or pay it's monthly "tier". They do.

The next step would be to pony up $1,250 USD and buy your own private island sim. A full region, 256 meters on a side, and all yours. Make it look nice, divide it into parcels, and then people can "Buy" parcels fom you, while paying you rent each month. You, in turn, pay Linden Lab at a fixed rate of $295 USD per month, whether you have any renters or not. As sim owner, you can always reclaim a parcel, if someone refuses to pay rent or breaks the rules you set up. A sim owner has far more control over their land.

Bigger landlords just expand on one or both of the above methods, buying more parcels or more sims.

Some landlords try to make nice themed areas, like Caledon, shich has a definite "Steampunk" theme, and rules to make for a good residential and themed commercial community. It takes extra work to manage a themed area, but if you do it well, you'll have people on waiting lists to rent from you.

Other landlords just make lots of "Flat and green" or "Flat sandbar with water on at least one edge" parcels, and allow their renters to build whatever they want, within reason.

The trick with any of the above is to get and keep enough tenants to make a profit, instead of hemmoraghing money each month. Competition is fierce, and a little fish trying to start now is likely to get swamped by the big fish already in that pond.

wow thanks for that advice.. so u mean there really isnt anymore region buyers? because its already been taken?

i mean your last statement Ceera makes me think its not a good idea to buy sim or start?

Wait, LL increase the price of Island from $1000 to $1250? Damn, I thought they only rise the price of Homestead.

The trick with any of the above is to get and keep enough tenants to make a profit, instead of hemmoraghing money each month. Competition is fierce, and a little fish trying to start now is likely to get swamped by the big fish already in that pond.



this above paragraph is what depresses me . does it mean its already been done and why bother? or can one still do this and make profit ? and if u have enough money to stick in to this game can u make it even if the big fish are already out there? another words catch up to them? if not then what is there to do in sl if that is what your interest are? im not being stobby here at all . just wanna know what im getting in to

i guess what im saying is.... if i was to drop 1200 into a sim am i still at a disadvantage towards the big fish? and if so how?

Jack, I suggest that you place a ad in the land sales thread and look to buy a already-populated residential island. Let the owner show his books to prove folks are paying the rental boxes.

I think its best to start off with a rental community as opposed to selling island plots. When you sell them you loose alot more control. If you develop a residential rental community it may be easier for you.

ALSO: Make sure they have not used the Estate tools to make it appear that some plots have double prims (big headache). And you are renting Prims - not meters. $2L a prim per week is as low as you can go to make a small profit IF all of your plots are rented out.

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hmm ok lias so u think the best way is to actually take over a sim that someone is getting rid of and is already populated. instead of me just up and buying a new sim and trying to get it populated? i think that is what u are saying. and can u be more specific on the double prims?? can i look for this now and learn about it .. ? im not sure what u are talking about useing the estate tools to make it appear that some plots have double prims? this sounds important to know. and this is exactly what kind of surprises i dont want

when u say this Lias . are u saying that i should start off with rental community as in mainland??? other then island plots? and if so does it matter the control u have as long as u are getting your rent from the landlord u have buying the plot?

OK, a correction on my earlier post. The current cost for a full private island sim is $1000 USD, not $1250 USD.

While one can still purchase full regions via Auctions from LL on the Mainland, that is no different than buying parcels individually, save that your initial parcel is edge to edge in the sim. What it costs in that case is wildly variable, depending on what is bid at auction, and the pro land flippers and developers, with their bots and automated bidding apps will usually win out over a small-time buyer hoping to get a new region. Also, while you may purchase at auction a lovely full-region of Mainland, you have no control over what is done with the attached adjacent mainland sims. So while you may have wonderful plans for your chunk of mainland, the sim next door may be planning on doing virtually anything. And a sim at auction normally does not have already developed sims as neighbors, so it's a real crap-shoot as to what you may end up next to.

That is why I recommended first starting with a few mainland parcels, and renting them. Less capital investment, and far less risk, and you'll know, at least initially, what is in the area you are buying into. It may change tomorrow, but it's still a better indication of what is to come than an empty sim still up for auction.

If you have a SOLID business plan, and a good idea for a themed community, then sure, buying a private island sim is a great idea. But if you have never been an SL landlord before, it is also a very risky start. I've seen people buy one or two or four sims, make a beautiful landscape, and eat tier losses month after month because they had no takers for renters.

Yes. You will have a better chance of making the $300 USD you will owe to Linden Lab within 30 days if you start off with some tenants. And make sure you know when the Tier date is for the sim your buying (Don't trust the sim seller - ask Live Help the Tier date when you put in your ticket to purchase the island).

You goto WORLD then region/estate and under the REGION tab you see OBJECT BONUS. Make sure that is set to 1.

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ok thanx Lias and ceera for advice . i think i see now . tell me if i got it. if i know exactly what my theme is gonna be and i know how i want things i could go for a island and possibly make it work cause i know what its gonna be.. how ever if i dont know what the theme is to be just going in blind .. i would be better off with a few mainland parcels and renting to get the feel and go from there. so lets say i want to buy mainland and rent it out. do i go about it the same way i would if i just wanted to rent a piece of mainland from LL for my own personal use? or is it different? i beleive in order to rent land from mainland u have to have premium account and u get 512 free plot? is this the same rules as if u buy the land and rent it out on main land? and would i be better to create a alt and have a group? and can i always create a alt and form a group later for discount or do i have to do it the first time and first time only?hope this makes sence

There's not a lot of money in it, do your number crunching first, don't look at what prices people put for renting out empty property, rather look at what people ar getting from property that actually has tennants, there's generaly a fair difference, anyon can buy a sim cut a sim into blocks and put rental signs on it for $5 per prim per month, and many do and dump the empty sim 2 months later. ccan you build well enough and deal with noob tennants everyday and create a themed sim that sets you ahead of everyone else who buys an island to rent out so they can quit their RL jobs?
I suspect instead of buying a whole sim start with half a sim of mainland, plenty of land for sale if you hunt around, if it works well and you can fill it with cash waving tennatns, then sell it and buy an island then.
I rent out half a sim of shops and it's a part time job, renting a whole sime could keep you busy for many hours a day.
Alo I suggest you buy a rental box system like HippoRent , it will simplify keeping track of rent payments especially if you have more than 1 or 2 tennants.

You just find the land you want for sale, right click it and buy it. If your not at the correct premium tier level when you buy you will be prompted to upgrade further. See this page to check on mainland prices and see what is affordable to you. http://secondlife.com/land/pricing.php. The free 512 is a myth or misunderstanding. With your $10 USD a month Premium membership you are eligible to maintain 512 meters of mainloand. You still have to find 512 meters for sale and pay for it.

It is always a good idea to have a alt own your land with you. If your main account gets disabled then you have a back up to log in and work on tenant issues. Remember to give your alt your mod rights.

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this is some more good advice.. makes one think.. i should start out small and work my way up cause i dont know how much time i can put in to it.. after all i do have a full time rl job to do also.. i just thought if u had the money up front the rest would take care of itself so to speak .. thanks for this advice Tegg

thanks Lias, i think this is where i prolly should start.. the big islands look so nice though. there was one called Tweakland Nymala Isles or estates.. and its just beautiful .. makes u want to do the same thing . but i prolly wouldnt know where to begin at that level and a few plots at mainland i will probably have my hands full keep throwing this education at me . this forum is great so u dont mess up to badly inworld ty Lias

just like real life, nothing will take care of it's self

to own a sim, and attempt to rent it out to make enough money to cover tier (and a little extra to try to make the purchase price back) is hard work, long hours, and yes, even some luck.

It sounds like you want someone to tell you either to go ahead and do it, that it is a great idea, or to not do it as there is no chance to make money.

If you want to do it solely to make money, go into it NOT expecting to make a profit for at least a year (remember you need to cover tier AND make back your purchase price)

you also will need to put in a lot of time dealing with renters, and potential renters, answering questions, dealing with disputes between renters, and of course the ever popular griefer attacks.

PLUS you need to get the sim ready, decide if you want it themed, if so, do you plan to do it all yourself or hire someone, if you hire someone, keep in mind that will be more money you will need to factor into the equation (as in money to recuperate eventually)

If you do not have the time to do all the "manager" work yourself, would you hire someone? Again, more money you need to recuperate.

Owning and renting a sim is something I have wanted to do since joining SL (3 years ago), and until I can justify spending 1000 US for the purchase and then cover the tier of approx 300 US out of pocket, I will not take that step.

If I were to own a sim, I would do it, with the outlook of not ever getting renters, knowing I would have to pay tier out of pocket, as that would be the worst case scenario, and until I can do that, no sim for me.

yes i see what u mean Rhaorth.. its kind of like if u make a go of it make it a to where u dont miss the money.. if its a 1000 to buy and 300 a month . just look at it as a rl down payment on a car and a monthly bill on that car. and then hope it makes u profit in the long run sounds like one should only do it if they really have the money they can afford to lose for just intertainment . other wise one may be dissapointed. one other question. i understand that u have to answer questions to noobs. but if i was a sim owner. wouldnt most of my customers be experienced in the game for a bit and be actual landlords them selves that i would have to deal with? and wouldnt it be that guy that buys off me answering questions to noobs that rent from him? cause when ever i go to rent a plot there is a landlord and he owns the property but not the sim and he is actually paying the sim owner tier just as i am paying the landlord tier. so me the noob renting the land from the landlord .. not the sim owner. but the landlord is who i always deal with when asking questions. so the way i thought i seen it was.. the actual sim owner witch would be me in this case.... then the guy that buys up plots to rent out to the noobs? is this correct? i guess this is why i originally thought .. that if u had the money the rest takes care of itself so to speak... i know there is always exceptions. but am i way off track?

one other thing i forgot to add to the post directly above.. is there a way to tell that u are for sure on mainland verses island?? i know they say island have a covent but is that the only way to tell? besides the obvious beauty of a island verses mainland. is there something u can click on and imidiatly know u are on mainland?

click WORLD, then region/estate and the the convenant tab. You see the estate reads 'mainland' if your on Linden Land.

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