New property changes discussion

[Timzii]

Hello,

 

I'm making this discussion regarding the last property updates, focusing mainly on landlord roleplay. So the previous system worked in a way, where the landlord set the price for hourly rent, then find tenants to rent, or negotiate for a cheaper hourly rent. The rent was deducted hourly inline with how you are paid hourly paychecks by the server ($800).  So my experience from renting out my property, I've had a Mirror Park house up for rent for about 3-4 weeks for $500/h , making me around $25,000-$40,000 per week. This money was paid by the hourly paycheck, which all players receive. The money deducted from the paycheck wasn't of a significant amount, meaning the player would still be making '' free '' money per hour. 

 

So now, the new system requires you to pay per weekly/monthly cost. This means in my case, the tenant would need to pay $25,000 - $40,000 up front payment on weekly basis, which seems a bit ridicilous. Many people who who are renting typically aren't getting a big income from their job ingame, meaning they are taking a big financial burden every week. This would discourage anyone from renting because if they are not active they are taking big hit every month, where before it was coming from their paycheck, meaning they in theory weren't losing any money, being a win-win situation on both sides. 

 

What I wish to achieve is using the old renting system, make manual confirmation from both sides, meaning the landlord sends an offer to the tenant, in example offering rent to a certain person per X$ per hour. This means that people couldn't rent out their homes to the whole server as they would actually need to be there in order to offer rent. Admins are also going to be setting the limit on how many tenants you can have per your property. This system would encourage renting from both sides.

 

With the new changes the system heavily discourages becoming a landlord as I feel that isn't a financial incentive as not only are you not getting the property appreciation from owning it for a long time as an investment but you are also getting lower rental yields. I also fear that many tenants will not keep with their weekly/monthly payments and after their 1st of 2nd payment will give up on it, as there is no script to remind them. 

 

As mentioned, the whole server operates hourly, why should this one sector operate on a new time scale? Even if this mimics real life which I am in usually in favor for changes which are in line with real life the whole server operates on an hourly basis, why should this sector be any different?

 

In case you've missed the last update;

[Pogis]

Well, guess what, you won't be receiving 40k a week by simply renting out a house anymore. And that's good and realistic.

 

Completely support the new changes.

[eMe]

Just now, Pogis said:

Well, guess what, you won't be receiving 40k a week by simply renting out a house anymore. And that's good and realistic.

 

Completely support the new changes.

 

Yes but by the same token landlords do not have any reason to be landlords anymore and people who cannot afford houses will not have any houses to rent so the tenants are the real 'losers' here. 

[Pogis]

Just now, eMe said:

 

Yes but by the same token landlords do not have any reason to be landlords anymore and people who cannot afford houses will not have any houses to rent so the tenants are the real 'losers' here. 

 

People will still lease out houses / buildings. Those who only held onto 5 properties to ''lease'' them out will sell them, which will let others get some houses as well.

 

If anything, people will just lease houses out for ridiculous prices anyway in the end, and it's up to the customer if they want to rent it or not. But I do hope there will still be decent people around who are not there only for the $$$.

Edited August 2, 2020 by Pogis

[effion]

So don't charge them $40K? This just looks like to me that you're upset because your mirror park house won't be generating enough money for you anymore.

Regardless, in real life too renting a house isn't really cheap.

[eMe]

Just now, Pogis said:

 

People will still lease out houses / buildings. Those who only held onto 5 properties to ''lease'' them out will sell them, which will let others get some houses as well.

 

In the end, people will just lease houses out for ridiculous prices anyway.

It's a short term fix, once these "five properties" are sold to players who will own them what do we do with new players who are looking to rent? It causes more problems then it solves in the long run. 

 

I think people will refuse to pay extortionate prices (Up to 30-40K) per week, and just remain homeless and spawn at their 'last location' rather then have a house to live at IC. 

 

[RennSportAMG]

Timzii has a good point here. And honestly, I don't see that making 25-40 thousand a week is a problem. Mechanic job pays out as much in one night.

 

Though on the other hand this just increases the financial responsibility of the player who rents out that said apartment, which by no means is a bad thing on a server where money has lost it's value. This could also give more possibilities for landlords to compete with their rent pricing.

[eMe]

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. 

[effion]

2 minutes ago, eMe said:

I think people will refuse to pay extortionate prices (Up to 30-40K) per week, and just remain homeless and spawn at their 'last location' rather then have a house to live at IC. 

 

I just want to highlight this statement and hope that management understands that it is not fair because a lot of people will actually do this.

There needs to be a ruling to prevent it so that purchasing a house, tenant / landlord roleplay becomes more of a thing. 

 

As far as extortionate prices go, $30-40K a week should be affordable for those who really want to live in Mirror Park, the place itself comes with a price tag. 

[Law]

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.