From raising livestock to hosting concerts, there are many ways to make money from unused land. Of course, many of these money-making strategies involve pouring in huge amounts of time and energy. What if you’re looking for something more passive? This post lists a few simpler ways to make money from land that could be less stressful.
Sell your land
One simple way to make money from your unused land is to sell it. There are a few ways in which you can go about doing this. One option is to put up a listing on a plot listing site and connect with buyers through this platform. Another option could be to sell your plot at a land auction. Alternatively, if this all sounds like a lot of work, you could get a quick cash offer at a site like primelandbuyers.com. In all cases, you’ll want to hire a real estate solicitor to help you through the legal steps. Make sure you’ve also got an up-to-date plot plan.
Lease your land to investors
Another option is to lease your land out to investors. This could include giving investors the power to build on the land with your permission while charging a ground lease. How much you charge is likely to depend on how attractive the land is. Rural land on the outskirts of cities and towns could be very attractive, but it depends on what you’re willing to allow to be built on it.
Lease your land to farmers
There could be neighboring farmers who you can lease your land to. This could give them extra land for growing produce or raising livestock. They still do all the farming work and still get all the profits from their farm – you simply charge a fee for them to use the land. This is likely to only be an investment option in rural areas, although you may be able to rent out urban land as community garden space or even space for micro-farming.
Convert it to parking
A great way to make money from land in central urban areas is to convert it into a parking lot. You can then install a parking machine and charge people to park there. While you will be in charge of maintenance of the car park and parking machines, this is not likely to be too much upkeep. The important part is making sure that people pay for parking – which could involve putting up barriers or cameras.
Rent it out for billboards
Land can also be rented out as space for billboard adverts. This can be a great option for properties near busy roads where a billboard is likely to be an attractive option for advertisers. Billboards can even be installed onto sides or roofs of buildings. Some billboard advertising companies are willing to install a billboard on your property for free and will then help you find advertisers while sharing the profits with you. Just be wary of local zoning restrictions and make sure that your billboard complies with these. This guide at smallbusiness.chron.com explains more about billboards.
(Disclaimer: This content is a partnered post. This material is provided as news and general information. It should not be construed as an endorsement of any investment service. The opinions expressed are the personal views and experience of the author, and no recommendation is made.)