Suggestion: Property Agreements

Deeveon

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In light of all the property fiascos in recent months/years as well as my own bad experience, I just don't see myself ever buying any more property without some sort of written agreement spelling out what MindArk, the Planet Partners and Land Owners are permitted to change down the road.


It seems like the biggest variables involved are (detailed descriptions below):
  • Maintenance and other fixed/periodic fees
  • Shopping taxes
  • Location
  • Item points
  • View type
  • Local Storage
  • Are there any other potentially devastating changes that I'm overlooking?
I think the property agreement could easily be added as part of the deed and printable for the property owner's records. In the Properties window of the estate deed, there would be a tab that spells out what the gaurantees are for the above variables. For example, my apartment has a monthly fee of 10 PED. The deed would state that the current fee is 10 PED and the min/max for this type of property is permanently set to 0/10 meaning the minimum it can ever be is 0 and max it can ever be is 10. That way I know the maintenance fee will never go up, but may come down in the future. And then state that no other fees of any sort will ever be assessed.

For taxes they can spell out what the min/max values are for MindArk, the Planet Partner and the Land Owner. For example, MindArk can assess a 0-2% tax, the planet partner can assess a 0-2% tax and the land owner can assess a 0-10% tax for a combined total of 0-14%.

For Location they can give the current distance to the nearest teleport and set the min/max for that giving them some latitude for redesign in future updates, but not so much that the property owner could get screwed on location. For example, current distance might be 100 meters with a potential range of 0-500 meters. Additionally, it should state if the path to the teleport is unabated, meaning that you can run directly to/from it (i.e. no obstacles in the way). I think a simple yes/no would suffice.

For item points, simply establish the current amount as well as the minimum. Additionally a statement along the lines of that item points will be proportionally adjusted to match changes to the item point system in general. For example, if they pull an ammo nerf and add one or more zeroes to the item points for all items, that they will add the same amount of zeroes to the property's capacity.


For view type, something simple along the lines of a few fixed types such as:
  • Scenic - Wilderness (e.g. overlooks a wilderness area)
  • Scenic - Water (e.g. overlooks a lake or ocean)
  • City - Overlooks a city landscape (e.g. another apartment building)
  • None - Has no windows
Local storage would indicate if there are storage terminals available locally or not. This would address the CND fiasco where introducing storage there caused property values to drop. Speaking of which, here's my property owner horror story...

A few months back I broke down and bought a CND apartment to use as storage for when I'm up there. I had no idea at the time, but it turned out that I bought it just 2 days before VU10. So, in less than 48 hrs, the property lost nearly 1/3 its value and has continued to decline ever since, because MA/FPC up and decided to add storage to CND. I knew the risk at the time, so I'm not crying about that, but I also learned my lesson from that experience. Fool me once, shame on you. Fool me twice, shame on me.

I don't intend to be fooled twice and therefore I think we need to have some sort of property agreement in place so that fortunes aren't lost/gained at the sole discression of the game designers. With a property agreement like this in place, I'd be willing to purchase/invest in property in EU again.

On the other hand, if property was more readily available for anyone to buy at a fixed price at any time (i.e. more introduced when supply gets low), then I don't think we would need such a system. But I don't see any indication that MA & the planet partners intend to do that. Just look at how much property has been sitting around unsold for years now.

I'm interested in other people's opinions about the viability of something like this or improvements on how to evolve the idea to make it better. Also, would it make you feel like your investments in EU are safer and therefore more willing to make additional investments?
 
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Marcus Kaine

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Would definitely give people a little more confidence, hell, I may even be swayed to invest.

You can probably add "LA Terrain" to that list.
 

Deeveon

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You can probably add "LA Terrain" to that list.


Thanks. How did I overlook that one? It could be like View in that it has a few fixed types like:
  • Flat
  • Hilly
  • Mountainous
  • Aquatic
 
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davidgr1200

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Maintenance and other fixed/periodic fees
Shopping taxes
Location
Item points
View type
Local Storage

Comparing it to the real world:
Maintenance & other fees can be raised
Taxes can be raised
Location cannot be changed, but the surrounding area can change
Item points not applicable in real world
View type - view can be changed in real world if area is redeveloped
Local storage - not applicable in real world

So four of those six items can change in the real world and thus could be difficult to justify being held constant in EU.
Item points & item storage (not quite sure what you mean by the latter) should be regarded as fixed by MA.
 

Lorespade

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Property owners in a way should be concidered share owners in a sense. and should have an ability to vote on things regarding their investments into the game.
 

TheGreatest

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Comparing it to the real world:
Maintenance & other fees can be raised
Taxes can be raised
Location cannot be changed, but the surrounding area can change
Item points not applicable in real world
View type - view can be changed in real world if area is redeveloped
Local storage - not applicable in real world

So four of those six items can change in the real world and thus could be difficult to justify being held constant in EU.
Item points & item storage (not quite sure what you mean by the latter) should be regarded as fixed by MA.

Maintenance & other fees can be raised - not without review by council

Taxes can be raised - not without review by government bodies

Location cannot be changed, but the surrounding area can change - not without consent from local council and restricted by zoning

View type - view can be changed in real world if area is redeveloped - subject to council reviews



I guess the point of my post is; in the real world, you atleast have foresight. Things can't just change in the blink of an eye, or in the case of EU it would be in the blink of a VU. Even if they could, you'd have a medium through which to protest.
Investors are wide open for shafting. This is why I haven't purchased a shop, house or anything else that has it's value almost entirely dictated by market value.
Rest assured, I certainly would have purchased atleast a shop, had my confidence been higher in MA.
 

Bombay

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Property owners in a way should be concidered share owners in a sense. and should have an ability to vote on things regarding their investments into the game.



In general I am opposed to the OP. However Lore makes a great point here and TheGreatest sort of backs it up below here. Investing in EU would be a much more attractive situation if we had some sort of recourse or arbitration available after investing in "unreal property"(I made a funny:laugh:). Basically a system where the affected people would get some time and advanced notice of changes which would affect them, and a way to either negotiate the way the change takes place, stop it all together, or recoup some of the loss.

My reason for disagreement with the OP being that there are no such guarantees when you purchase a deed in real life and so I find it unreasonable to expect such here. However if we plan to keep going about using NEVERDIE as an example of what can be done in this game, I do think a little less luck and a bit more structure is in order. I look at the people who purchased a hangar right before they were put on hold as an example that makes investment in EU seem a lot less like an investment and a LOT more like speculation/gambling. At the moment we have to have faith in MA. Instead I would like to see just a little more commitment on their part, although what Deeveon suggest is going way overboard in my opinion. Those suggestions would actually make EU a smarter investment than real life!:laugh:



Maintenance & other fees can be raised - not without review by council

Taxes can be raised - not without review by government bodies

Location cannot be changed, but the surrounding area can change - not without consent from local council and restricted by zoning

View type - view can be changed in real world if area is redeveloped - subject to council reviews



I guess the point of my post is; in the real world, you atleast have foresight. Things can't just change in the blink of an eye, or in the case of EU it would be in the blink of a VU. Even if they could, you'd have a medium through which to protest.
Investors are wide open for shafting. This is why I haven't purchased a shop, house or anything else that has it's value almost entirely dictated by market value.
Rest assured, I certainly would have purchased atleast a shop, had my confidence been higher in MA.
 
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Aeris_is_back

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Doorak

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well if their not to consider them shareholders, they are definately significant stakeholders and should be treated as such, this definately does sound good, a detailed agreement
 

Shard-Angel

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/signed.

If MA needs to CHANGE something - either give us 1 year notice for upcoming changes - and/or buy our all our property before implementing them. And by buyout, I dont mean TT value.

It can even be considered illegal since real $ is involved for the "investment" - and EULA or not, Business Law in most countries will have some sort of protection against a "Bait, and Switch" practice. (As it is not in the interest of the consumer.) There is NO consumer protection in EU - and being a real $ economy, I have always stated that MA needs some form of regulatory body monitoring its activities for "fair practices".
 
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