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Parcels on estate without covenant

Doc Avalanche
Registered User
Join date: 6 Dec 2006
Posts: 3
04-10-2007 13:05
Hi, I've bought 3 parcels in a private estate, but without any word about rent in the covenant. The rule was that I can't subdivide or resell those parcels, ok I'll create my home!
Now the estate owner IM me and want a monthly rent, cause he says that he forgot to write it in the covenant.
Should I pay, or what?
Zaphod Kotobide
zOMGWTFPME!
Join date: 19 Oct 2006
Posts: 2,087
04-10-2007 13:08
How much did you pay for those parcels, and how much is the owner asking for monthly fees?
Denise Bonetto
Registered User
Join date: 31 Jan 2007
Posts: 705
04-10-2007 13:09
All land will require monthly tier payment, whether mainland direct to LL, or island to the island owner.

The island owner will still have to pay monthy tier, so if you don't pay them, they are likely to reposses your land anyway.
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Calveen Kline
In pursuit of Happiness
Join date: 5 Jan 2007
Posts: 682
04-10-2007 13:13
Unfortunately, yes. You have to pay tier as we all do. If that's not something you were planning for since it wasn't included in the Covenant, you should ask for a refund and move out.
Dnel DaSilva
Master Xessorizer
Join date: 22 May 2005
Posts: 781
04-10-2007 13:36
With any land you should expect to pay tier (rent) to someone, either the estate owner or LL.

If the rent is too high, you should ask for a refund, and the land owner should really give it to you, since it is thier mistake they did not supply the information to you upfront.
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Ricky Yates
(searching...)
Join date: 28 Jan 2007
Posts: 809
04-10-2007 13:58
TANSTAAFL!

If he forgot he was most likely absent-minded, but tier has to be paid in any case. The rent should be reasonable ... covering tier fee in proportion plus some profit
Doc Avalanche
Registered User
Join date: 6 Dec 2006
Posts: 3
04-10-2007 14:23
I've paid about 6200/512, but I don't know how will be the monthly fees,

Ok, I will ask a refund, but what if he doesn't agree?
Calveen Kline
In pursuit of Happiness
Join date: 5 Jan 2007
Posts: 682
04-10-2007 14:36
If your landlord is any trustworthy, he/she will recognize the error and refund the money. Otherwise, your only choice would be to sell the land yourself, in this case you'd still have to pay for first month's tier.
Doc Avalanche
Registered User
Join date: 6 Dec 2006
Posts: 3
04-11-2007 02:15
I can't resell it.
This was the only rule I've found on covenant.
Ricky Yates
(searching...)
Join date: 28 Jan 2007
Posts: 809
04-11-2007 02:23
From: Doc Avalanche
I've paid about 6200/512, but I don't know how will be the monthly fees,

Ok, I will ask a refund, but what if he doesn't agree?
As for rent to cover tier fee, I would expect something in the L$ 650-700/512 range (if it's a new tier island sim) or 450/512 ballpark if it's old tier.
Ricky Yates
(searching...)
Join date: 28 Jan 2007
Posts: 809
04-11-2007 02:32
If it's a new tier island, the weekly tier contribution would be about L$ 153 per 512 m², but that's really rock bottom. So any rent yielding a reasonable profit margin on top of that would be OK, I guess.