How do I put rentals on my land...

Hi all. I'm trying to figure out to have renters on our land. We want to keep the space but need a bit of income, but the logistics of this fail me. I need the basics here...like how to assign the land to the person renting, how to collect rent, how to assign a certain amount of space/prims to the renting party, etc.

Thanks to anyone who answers.

vc

Hi Viridian

You need to divide your plot up. This is done by right clicking the land, select land edit. Next hold the mouse button down and move the mouse to drag out a box to select the area that needs to be divided. To divide that area, simply click 'subdivide' and confirm.

Now if you right click either parcel, select about land, objects tab, you will see now not only a sim prim allowance (total prim allowance for all your plots in the sim), but a parcel allowance too. Dividing the land is not only essential so you can have different settings on each parcel such as the music url, but its a good way to keep a check on prims used.

Its important to realise that although your tenants parcel will have a prim allowance for that parcel clearly stated, along with the number of prims being used on that parcel, that it is possible for her/him to go over their allowance and eat into yours. This can of course happen the other way round too.

The prim allowance is proportional to the size of plot you cut, although there is nothing to stop you renting out a plot of land with an agreed allowance of prims that differs from the parcels allowance. I steer clear of that myself and rent out the prim allowance that comes with the parcel, it's easier to manage.

As far as rent collection goes, there are a couple of options. There are scripted objects available that will notfiy the tenant when the lease has expired. I prefer my tenants to pay me directly, and have records of their payment dates.

Hope that helps.

You could also hire someone to manage your property. Property managers ensure rent is paid on time, prim limits are in range, and generally everyone is happy. Usually they charge a small % of rent.

ElvenGlen is an example of leased land in a sim. The Residents (all Elf Clan members so that we share the same values) build according to basic building code that was established by the Eldars. Rent is collected through PayPal or ingame with Lindens. A spread sheet lists each person's pay date.

One problem that may occur is the use of scripts that lag, something that is not easy to monitor.

Soon Elf Haven will open, another example of themed residential lands.

Contact me in-game for more information about the experience of leasing land.


Forcythia