I've got a couple of hundred cards rented out through Peakmonsters and I'm struggling to keep on top of getting the best rental price.
It was only three days ago that I noticed some of my legendaries were rented out for bargain prices, because the market had shifted so much in the week since I first rented them out, so I've had to de-list and then relist nearly every single cards.
There's quite a difference in return...
To the bottom...
Now I've hit on the strategy of logging on daily, sorting my cards by annual yield percentage and then for anything earning me over 10 DEC a day that looks a bit low checking on the market and delisting and relisting if the price has gone up by more than 10%.
It's a bit of a pain, so I'm really hoping the 'market mismatch' feature on Peakmonsters comes out soon.
This must be a real hassle if you're renting out several hundred, or thousands of cards. I mean, I thought this was supposed to be a passive income!?!
I also pity the poor players who are renting these from me, it can't be great having yer rentals cancelled at relatively short notice. I literally just cancelled all of these because I noticed I can do a lot better on them by relisting at a higher price...
There needs to be a longer term tie in option I think for rentals. Per season would make more sense!
Posted Using LeoFinance Beta
It's already available. I was using it today. 😊
I find it hard keeping up too. Mainly because the prices seem to change so much. I cancel a rental because it's too high/low but by the time 24 hours have passed the prices have shifted again.
It's going to take a while to work out the best strategy I think.
Posted Using LeoFinance Beta
I guess we're in a volatile period right now as there are so many new developments.
Although with so many other new developments round the corner I can't see this unpredictable market becoming any more settled anytime soon.
I'm glad that tool's working - must have literally just come online. I will check it out now!
Posted Using LeoFinance Beta
Whatever happened to the escrow function? In the old system I would offer my rental cards for a bargain, but with a somewhat steep escrow. Apparently that was worth it for lots of renters, and guess what: quite often they would break the rental contract early, and I ended up with more money than I'd anticipated. I on the other hand never had a reason to break a contract, so I didn't have to worry about paying my own escrow.
So much for the good part of the old rental system. I don't miss it too much, though, because these days I've got nearly all my cards rented out. As for the price... hehehe, sure the keep changing, but in my experience they just adjust downwards. I mean, what would be the point changing my rental fee higher, if there are others offering the same card at the same level for a lower rental fee?
Am I completely missing your point here? It could well be, since I'm not even familiar with the mismatch function you've been mentioning. Where was that, and what does it do exactly?
Posted Using LeoFinance Beta
The mismatch allows you to list all cards that are over or under a certain percent of the current market price.
It's quite handy.
We do need a better system for sure, it's a chore keeping on track of the rentals as it is!
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i have to agree with you. but i also view this issue from the other side ;)
i still have some good rentals, that are probably not yet adjusted to the sick market conditions at the moment.
its really hard for me being break even everyday but keep playing diamond league.
and it still gets harder, the higher the rental prices rise :(
but i suppose as an owner there cant be any better situation ;)
I guess eventually the market should sort itself out, people won't keep renting if they don't break even, there's little point!
So prices should come down?
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I completely agree with you!!!
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just rent them out cheap.... who cares?
the only time a passive income becomes work is when you want too much from it
Posted Using LeoFinance Beta
Some of my cards are rented out at half price....!
Even with my small collection of rentals that's losing somewhere in the region of $150 a month!
Posted Using LeoFinance Beta
fair enough...but how much work are you willing to do for $150 per month? In western society at least, it only warrants a bit of casual updating once or twice a month. Of course those who get richest tend to be those that work hardest at getting rich. Im not convinced its a good trade off most of the time...
Posted Using LeoFinance Beta
In fairness it's not that much effort to make every day or so!
Posted Using LeoFinance Beta
I think this issue happens because there are many new players and they want to rent the best card to rank up as fast as possible.
However, some of them may realize that they can not break the even if they continue to rent with high fee.
I guess the rental market will be more stable by end of Aug.
Posted Using LeoFinance Beta
I know the feels. Lucky for me I only have a couple of legendaries but I'm still struggling to keep up with the markets.
We need a better sorting system on the website and a few more external tools to help keep things organizedd.
Posted Using LeoFinance Beta
I stopped renting my cards on PeakMonsters a while ago. Pretty much around the time they added renting to the Splinterlands interface. Have you messed around with that at all?
Posted Using LeoFinance Beta
Actually now that the 'market mismatch' tool is working i think I've got it sorted!
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Great!
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Although the DEC Price has been very stable above $0.004 some rents are incredible but others don't seem to know how to rent since they put a card at more than 70 DEC per day, when others that have much more value cost less than 10 DEC per day.
Posted Using LeoFinance Beta
The rental prices do seem to fluctuate wildly!
Posted Using LeoFinance Beta
I just dipped my toe in the Rental Business the last few days. I'll have to check my prices with others to see if I undervalued my cards. I'm currently using the days rented for as judgement. EX. if someone rents my card for 10 days its likely underpriced. If a card is renting for just one day here and there, its price just right or slightly too high.
I'm keeping an eye on it daily, you get a feel for it after a couple of days! Just takes a bit of time.
But for around $70 a day, it's worth it!
Posted Using LeoFinance Beta
$70 a day is a nice return. I only listed around 20 cards so far but I'm going to be adjusting that real soon.