Purchasing land in Decentraland can be a long-term investment and a good way to earn profits. However, if you cannot afford to purchase your own land, you can rent it out to someone else. The process is simple. You will need to decide on the duration of your rental, send a transaction to your tenant, and confirm your payment. Once you have received your tenant’s payment, you are ready to enjoy your newly acquired property.
In the Decentraland context, a LAND is a piece of tokenized real estate that includes x, y Cartesian coordinates and unique attributes. Each LAND is a non-fungible token (or ERC-721 NFT), and its value is determined by its proximity to popular areas. You can buy, sell, or rent LANDs, and you can even mortgage your LAND.
Two Ways to Grab Decentraland Land
There are two ways to lease a LAND in Decentraland, one being a listing on the marketplace and the other being a direct purchase. Those who want to rent out their LAND should look for a rental platform that is recommended by Decentraland. The company recommends a few in the following list.
The cheapest land parcel in Decentraland costs roughly $3,000. To rent a LAND, you need to be a Decentraland user. Once you have created your account, you are able to create a listing and relist it at a later date if you choose.
Also Relevant: More on Decentraland Rental Opportunities for Positive ROI
MANA is Used for Rentals
The most important aspect of the Decentraland economy is its real estate system. Buying, selling, or renting a LAND is easy and can be done in MANA, the native token of Decentraland. There is a fee for gas, though. The cost of a LAND is based on its location, the amount of rented space, and the number of days it is rented for.
The best part is that a LAND can be rented for as little as 14 MANA a day. This is the smallest amount you can spend for a land, and it is the most cost effective way to obtain the property. If you are a landlord, you can’t sell your LANDs until the lease period has expired, at which time you can expect a bid from a buyer.
Check Rental Listings for Decentraland
The Decentraland Property Group’s home page has a section dedicated to renting a LAND. This site has a user-friendly interface that allows you to quickly and easily find a LAND to rent. The LANDs in the site are divided into categories, including the most basic, which is the smallest LAND available for rent.
The most prestigious LANDs are called “Estates.” This is a type of land that connects adjacent parcels, allowing you to build higher and more complex structures. Each ESTATE has a unique co-ordinates, and a LAND is a logical extension of that concept.
The Decentraland Property Group has also introduced an exciting new product, the’sandbox’. The sandbox is an area of LAND that can be rented to other LAND owners for the aforementioned novelty. This is an interesting feature because it will make the platform more accessible to a wider audience.
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