Many of my residents have been asking if Bella Pointe will be raising their rates like so many other real estate companies have recently; the answer is a simple ABSOLUTELY NOT!
I completely understand why other companies have raised their rates, our costs have increased recently, however I will not pass that increase along to my residents when I already know so many are struggling in their real world lives thanks to the global cost of living crisis.
Something everyone should understand is that real estate companies run on very thin profit margins. For every L$1000 I collect approximately L$900 of that goes directly to Linden Labs either in the form of tier, marketing fees, LindeX fees or PayPal cashout fees and that was before the increase to my costs. Now with the new fees I will only be able to keep roughly L$80 of every L$1000 paid to me which is of course before the RL tax man has his share which now leaves me with about L$56 profit per every L$1000 I am paid.
With profit margins like that some may think it’s silly for me to not pass along the cost increases to my residents and maybe they are right. However Second Life is not JUST a business to me and my residents are NOT just numbers on a spreadsheet. I owe my entire world to Second Life and the people that have supported Bella Pointe and BellaTECH as a whole. Everything I have in the world is thanks to Second Life. I met my RL husband here and we have a beautiful daughter now, I met my very best friends here and yes that 5.6% take home profit margin has allowed me to make my living here for the past 16 years. I love Second Life and the people in it and I will not make it even harder and less affordable for any of my residents. Especially not at a time when I know so many are struggling in the real world.
So no, Bella Pointe will NOT be increasing our rental rates. We will happily eat that cost increase for the people who have supported us. We are nothing without our residents and will do all we can to make sure they continue to have an affordable place to call home.