New property changes discussion

[eMe]

Just now, Law said:

Those are crazy yields and shouldn't exist in my opinion, don't care if it's an unpopular one either. I think $2500 a week for an apartment is a great income considering the amount of roleplay needed for such income.

 

You are clueless. Not only do you need to invest heavily into the property to get the property first and foremost (Upwards of 200K in most cases) you then need to go find a tenant, roleplay everything, keep a dynamic landlord/tenant relationship during their rental process and maintain their activity so it becomes even slightly profitable. 

 

Why would anyone invest from a financial perspective 300K to get a 2.5K return per week? I can make more doing /startshift at a 24/7, or I can just be in game for 3 hours and make 2.5K passively from the hourly paycheck... Before you get riled up saying it's a roleplay server and it should be done for the roleplay not the money, I know but it was an extreme example. Providing a high investment should net a high yield, you'll find most landlords now just stick to flipping cars instead and sooner or later there will not be a property to rent in sight.

[Ink]

I think that there is the potential for landlords to make some fantastic roleplay for people, but I also know that most of them aren't. I've seen a lot of people, especially characters who wouldn't realistically be in the room-leasing business, just kind of tack it on because they have extra properties. I think this new system where landlords are required to actually RP for their money is better, and am looking forward to it.

My favorite landlord that we have at the moment buys properties, beautifully custom-maps them, and then makes adjustments per the requests of his tenants. That is a value-add which is worth the 20-30k a week.

[RoryR]

So the decrease in profitibality was inveitable. Not only was it inflated due to unrestricted numbers of tenants per property, it was also ridiculous that some could recoup a signficant portion of their property's worth by simply renting it out for a week.

 

This new system is far better. The hourly system made absolutely no sense at all. It essentially rewarded players who play less and punished players who played more, and vice versa for landlords. The price for renting a property should not change based on how much you play. Now, the price is completely static and a lot more realistic. Landlords can opt to rent out their property for weeks or months at a time, or any other time frame. The only real 'issue' is that the payment is no longer automatic, and like you said some may forget to pay. But really that is an IC issue, if a tenant doesn't pay, send them an eviction notice. Another option is to contact your tenants personally and remind them rent is due via SMS, a call, an IC forum PM, etc. I believe this was 100% done with the intention of requiring landlords to actual do more 'landlord stuff' such as this, perfectly fine in my opinion.

 

This will no doubt change the typical price for renting a property on the server, and will more than likely lower it, but I wouldn't be surprised if people would still pay high amounts. Sure, it might be eye opening when they figure out their $350/hr apartment was costing them $35,000 over the course of a month, but if they paid it before, they can pay it now. But even that is a flawed comparison as that still takes into account how much a player plays, which should be irrelevant. Tenants may decide to stop paying for such expensive housing, but that is then down to landlords to adjust their prices accordingly to attract tenants.

 

There also needs to be a rule implemented which requires players to be living in some accomodation after 50 - 100 hours or something, unless they are roleplaying homeless or something similar. By that time, all of the starter money is obtained and is a completely realistic timeframe for someone to be able to find some housing. This is a realistic expectation of players and would also bring more life to renting/landlord RP.

[Rev]

I feel as if it was better before. Plenty of people did full IC contracts with their tenants. However the automatic rental payment system catered to people with low activity who need somewhere to rply stay at, without freeloading off a stranger, or paying a hefty % of their weekly activity money.

 

In the short term, it will result in the sale of a few hoarded houses that people were renting out and don't wish to write up contracts for. (Or they may just keep them anyway.)

In the long term, people with low activity and alts will have a severe shortage of places to stay because no one wants to rent to an inactive tenant, and the tenant won't want to pay if they're unsure about how long they'll be online! Personally, I wouldn't sign a rental contract on my alt because I may not make enough money, and will be a burden to the landlord if I don't log on.

 

The residential property limit is fine, no complains on that.

[Jura]

19 minutes ago, eMe said:

You are all calling out 40K a week like it's a lot, it's really not he said he charges 500$ per hour to a tenant (which is reasonable for a house in mirror park). I charge $350 for an apartment in Vespucci and these are my yields for 3 weeks;

 

$ 28,000.00

$ 31,000.00

$ 25,000.00

 

Any lower and there really isn't an incentive for me to own no less go through the hassle of renting out properties and providing this caliber of roleplay for people. The main point is there is no incentive for landlords.

 

Echoing above, mechanics are making 50K a day minimum, the whole server is getting paid paychecks per hour, and the housing industry is getting attacked the hardest? The rent is cheap in comparison to peoples income. 

I pay $30,000 for my garage lease. There is in no way any reason for a rental house to bring in 30-40K a week, that's fucking stupid.

 

You're basically earning $120,000 a month for doing basically nothing.  Give your head a wobble.

Edited August 2, 2020 by Jura

[Timzii]

Just now, Jura said:

I pay $30,000 for my garage lease. There is in no way any reason for a rental house to bring in 30-40K a week, that's fucking stupid.

 

You're basically earning $120,000 a month for doing basically nothing.  Give your head a wobble.

Compared to a garage which can make 300-400k a week the lease for the garage should be significantly higher.

[Jura]

Just now, Timzii said:

Compared to a garage which can make 300-400k a week the lease for the garage should be significantly higher.

And your prices for renting out a house should be lower.

[DasFroggy]

This will certainly prompt persons to either adopt a more realistic rental rate that people are willing to pay, or sell the properties that have seemingly been hoarded for the sole purpose of renting out.

 

Hopefully we can move on to the hotel properties with an availability fix next.

[TakeTwo]

If it could be done via a script offer/accept system then I support this idea since it's more fairly based on rp time. 

 

However, I really like this new system aside from manual payments. 

 

And can you still kick tenants/remove keys without being near them? Otherwise if a player goes inactive how do you remove them? 

 

The rental system was unrealistic. It needed this change. 

[mala]

28 minutes ago, eMe said:

Echoing above, mechanics are making 50K a day minimum, the whole server is getting paid paychecks per hour, and the housing industry is getting attacked the hardest? The rent is cheap in comparison to peoples income. 

 

15 minutes ago, Arielle said:

In the long term, people with low activity and alts will have a severe shortage of places to stay because no one wants to rent to an inactive tenant, and the tenant won't want to pay if they're unsure about how long they'll be online! Personally, I wouldn't sign a rental contract on my alt because I may not make enough money, and will be a burden to the landlord if I don't log on.

Echoing these two.

I've rented out a Mirror Park home before for about $8k to a single tenant, or about 14-20k when left up for automatic rent. I guess how much money you make depends on the area, but it's nowhere close to the amount of money people make daily, and it requires a lot more financial investment & mapping.

 

I've also rented out a house in Davis and the list of tenants was always changing, with plenty of inactive people. Characters with low activity that I allowed to stay there anyway because it brought life to the area when they did play. Why would they pay a static price per week if they don't know how much they'll be playing? On my alt characters, why would I sign a rent contract at all, and why would anyone rent to me, if I don't know how much I'll play or how much money I'll make to pay rent?