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Rent A Land Area Without Collateral!

David Joker Potanus

David Joker Potanus

Dominant
Joined
Jan 24, 2022
Posts
457
Greetings everyone!
I have decided to offer up Khorum Coast on Arkadia as a rental without requiring collateral! This way potential land owners can try their hand at owning a LA and see if it is right for them without making the big purchase. This also gives players a way to try and start their own business kind of thing inside Entropia without a huge investment. I highly suggest any potential renters to watch the video I created " I am a Virtual Landowner and so can you!" I will link it at the boittom. The video has lots of explanation on LA management and tips for success! Success during your rental period increases with proper advertising, make sure players know you are renting and what events you have going on!

Here is how it works to make this a non-collateral system:

In order to not require the collateral I will remain in control of the LA and make any adjustments to the land requested by the renter. The renter is required to cover the costs of their fertilizer or preferably bring it to me and I will make whatever changes to the creatures density/maturity that they ask. The renter will have full access to screenshots, videos or anything else they desire of the Ped Flow Center to see how the LA is doing for their month. I will log in about once a day to make any changes needed or requested to the LA.

Khorum Coast will be rented out for 1000 peds a month. Rental of the LA for 4 weeks starts when 1000 ped is traded over by the renter. I have considered charging less for multiple months so I am not opposed to that either.


Details on the LA itself:
index.php



Khorum Coast has 6 full DNA on the land. 2 Mutated Nusul, 2 Mutated Hadraada, 1 Mutated Zadul and 1 Mutated Kamaldon. This makes the LA one of the best on Arkadia for mid level hunting and variety! Khorum Coast also has decent mining markup resources including Cave Sap, Bismuth, Wenrex, Langotz and Sweetstuff. There is a teleporter on the LA and also two revive stations with full terminals located at the North and South end respectively.


 
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I like this idea. However you are double charging them by taking a flat fee + a % of profits. There are 2 types of expenses to LA management, the fixed cost of fertilizer, and then the arbitrary cost like events. The 1000 ped/month already covers the fertilizer and then some leaving you a guaranteed profit regardless of how well they do. So to take a % of profits on top of that is a lot. You are making it more expensive to run the land area just by the nature of charging a rental fee, but then to take a % of profits on top of that seems excessive since the most likely outcome will be that the renter will be in the negative if the LA is not already being run well with an active customer base.

I would suggest you change it to 1000p/month OR 10% of the income, whichever is greater. It takes time to curate a LA into a profitable venture. The 1k covers your fixed fertilizer cost regardless of the outcome of their attempts to run the LA, and leaves you a little in your pocket as profit. Charging the greater of the two instead of 10% on top will make it a lot easier for a player to reach a profit, which will in turn generate you more income as they will keep at it instead of quitting.

If you start burning through renters who try their hand and you end up with a new renter every month or two with a new event and reward system every month or two where players may have to chase down the renter for any global rewards or other payouts could end up souring players to your LA. They would then start turning to you and asking for payouts they are owed instead of the renter who might stop paying out players any rewards if they are deep in the red because they did not understand how easily they can outspend the income from taxes. So you might want to ask for a security of like 500p if they offer any sort of meta event that is not strictly using the in-game event system that pays out rewards based on globals. To ensure that they do not leave the hunters hanging, or pay out of your own pocket as a known and acceptable risk for renting the LA.

Also you would be generating a false sense of value for selling the LA if you do not adjust your records to reflect the expenses of renters vs the LA income. Example: If a player offers a lot of rewards for hunting but the taxes don't cover the costs and you show buyers only income generated. So I would suggest to keep the records of what the renters spend to stay above board if you ever decide to sell.

Nothing that I stated was made to troll or mock you, only constructive feedback from someone who has tried running LA's as a 3rd party on a few different LA's. As well as someone who rents items as their main mode of play. So please take my comments as they are intended, as positive feedback and insight from experience.

I sincerely wish you the best of luck in your endeavor,
Xanato Kaso.
 
I greatly appreciate your feedback. However, my price is more than fair in my opinion.

Edit- I am reevaluating the price and will make changes on my lunch break. I realized a profit split doesn't make sense for someone who would want to rent it for their own place to hunt. In that case all the peds should go back since they generated them themselves.
 
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I’d really like to give this a try. I’m looking to buy a land area and being able to see how everything works would be invaluable.

I’m happy to pay the 1,000 ped and 10% of profits. Based on current numbers if I did nothing but fertilize do you think the LA would make anywhere close to a profit?

Also I’d want to be in control the LA for that month. I’m a content creator who use to do a lot of Entropia Universe videos and still do a video every few months. Something like this would be awesome to cover. Would this be possible?

My channel is https://youtube.com/@CerealOverdrive?si=BCY-sBKYjpyVSvJE and I’d likely be able to drive some new traffic to the LA so there is the potential of some new long term customers.
 
Outman said:
I’m happy to pay the 1,000 ped and 10% of profits. Based on current numbers if I did nothing but fertilize do you think the LA would make anywhere close to a profit?
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No. It would take a lot of work to reach anywhere near the numbers he posted as an example between advertising and creating events. You have to do a lot of math to make sure any rewards you pay out would be covered by the taxes. Its almost a full time job until you have established a playerbase, and even then they will outgrow and move on once they finish codex on the mobs on the LA.
Outman said:
Also I’d want to be in control the LA for that month. I’m a content creator who use to do a lot of Entropia Universe videos and still do a video every few months. Something like this would be awesome to cover. Would this be possible?
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To do this you would need for him to trade you the deed to the land area so you can claim it and then the ped would go into your account instead of his. This would give you the access to change the amount of fertilizer being used mob density etc. It gets expensive to change it if it is not kept up properly to increase the density/spawn rate and to lock it in. If it is already at max/max there really is no need for you to have this access since he can make it so anyone can run an event on the LA without needing to be the owner. A player given this access could make a mistake and cost him a lot of ped, which is most likely why he is offering screenshots etc instead of claiming the deed.


@OP, if you ever do find someone who will rent the LA I do have a 3rd party escrow service to help facilitate trades for someone to claim the deed and trade it back.
 
Xanato Xan Kaso said:
To do this you would need for him to trade you the deed to the land area so you can claim it and then the ped would go into your account instead of his. This would give you the access to change the amount of fertilizer being used mob density etc. It gets expensive to change it if it is not kept up properly to increase the density/spawn rate and to lock it in. If it is already at max/max there really is no need for you to have this access since he can make it so anyone can run an event on the LA without needing to be the owner. A player given this access could make a mistake and cost him a lot of ped, which is most likely why he is offering screenshots etc instead of claiming the deed.
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I was more thinking access to the terminal would make for a cool video and then I could show how payouts work as well.

There’s a huge risk in trusting me so I can respect him deciding not to take me up on the offer. I’m not well known on this forum (although my account is older) but within EU I’d say I’ve got a decent reputation for being trustworthy.

Also there’s the potential for a decent upside in exposure.
 
Sorry, I got behind focusing on real life things. I changed the rental fee by removing the profit split but the renter will still be responsible for fertilizer.

Sadly, taking true ownership of the LA would require an extensive amount of collateral and that is why I chose this route.

If you did want to have terminal video footage I am totally fine with helping record whatever you were curious about or you could use the footage already in my video above which exlans things in detail too.

I also created an area for potential renters to ask questions publicly on Khorum Coast discord. https://discord.com/invite/6w8rvzxANs
 
The reason I am renting out Khorum is because I haven't put the effort out myself since I moved to Washington in July. My life now includes way more outdoor activities and I am looking into buying a fishing boat to do charters.
I don't put the time in with the land because I also don't play EU much right now either and the ped flow center reflects that.

I wanted to find a way to give players a chance to try and experience what I can share with LA ownership as cheaply as possible. Having no collateral cost hopefully keeps the door open for lots of potentially curious players who want to see what owning a land is like before they decide to invest their life savings like I did with Khorum.

Also, renting out the LA helps me because it keeps the land active, drawing in players and helping Arkadia too.

I am starting to decide if it is getting time for me to sell Khorum and invest in an outdoor hobby and business since I am loving it out here in Washington and I can't stop thinking about owning a boat now.
 
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David Joker Potanus said:
The reason I am renting out Khorum is because I haven't put the effort out myself since I moved to Washington in July. My life now includes way more outdoor activities and I am looking into buying a fishing boat to do charters.
I don't put the time in with the land because I also don't play EU much right now either and the ped flow center reflects that.

I wanted to find a way to give players a chance to try and experience what I can share with LA ownership as cheaply as possible. Having no collateral cost hopefully keeps the door open for lots of potentially curious players who want to see what owning a land is like before they decide to invest their life savings like I did with Khorum.

Also, renting out the LA helps me because it keeps the land active, drawing in players and helping Arkadia too.

I am starting to decide if it is getting time for me to sell Khorum and invest in an outdoor hobby and business since I am loving it out here in Washington and I can't stop thinking about owning a boat now.
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Sell the land and computer, get the boat, enjoy real life.
 
The Great Adventurer said:
Sell the land and computer, get the boat, enjoy real life.
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I agree. If you really dont have the time or desire, this is the better option, for both you and the player base. Finding someone who has the desire/time to invest in properly running the LA, but this could be a good way for you to let players try before they buy it.

Though I would be careful with buying a boat. They are expensive to maintain and only ever depreciate in value. So unless you are really well-off financially you are probably better off renting boats by the day yourself, lol.
 
How much would you be selling for?

Also when it comes to boats make sure to account for all the fees that come with a boat. I’ve found, especially in salt water, boat repair costs can get insane! Maybe I was just unlucky.
 
Outman said:
How much would you be selling for?

Also when it comes to boats make sure to account for all the fees that come with a boat. I’ve found, especially in salt water, boat repair costs can get insane! Maybe I was just unlucky.
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If I decide to sell Khorum I considered starting the bid at what I paid which was 180k. I don't want to be an overinflator or charge someone too much. I was offered 230k last March so we will see how it goes I guess.
 
Why rent a gun when you can rent a land?

Enjoy a private hunting ground for a while and reap the rewards for attracting other players.
 
I had an alternative idea this morning. The cost of rental closes the door on people who may not be able to afford an upfront cost. We have a very creative new player base and I would like to find a way to include anyone with land management.

I decided another option would be for someone to manage the land area while I am busy in real life doing other things. A fair 50/50 split of the profit at the end of the month after DNA and event costs.

Currently taking applications or ideas if anyone is interested.
 
Hi I’m interested in this idea, pm me and we can get into it more in detail. Prefer a voice conversation on discord if possible.

Thanks
Imp
 
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