Your land is not just a piece of earth; it’s a potential source of income or investment opportunity waiting to be unlocked. As a savvy investor, you have the ability to transform what may seem like wasteland or disused lots into a thriving asset. The key is to see the true potential of your land and make it work harder for you.
If you’re looking for ways to make your land work harder for you, these suggestions can be exactly what you need. They not only provide inspiration but also the potential to generate a significant income stream from your land.
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Offices/Workshops/Storage
This option works well for land with existing buildings or land that has planning permission to erect additional structures. These structures can then be rented out for multiple businesses to use from Butler Buildings for storage for other local businesses to building purpose-built units for multiple uses. Maybe you have customers needing a place to store boats or motorcycles or businesses needing to store equipment from time to time. To meet this need, empty structures can easily be converted into storage. You can create offices in your buildings that are complete with all amenities; you can give them to local community initiatives to use or allow businesses to use the space as a workshop. Going down this route means you need to be aware of your responsibilities as a commercial landlord and offer a building that is in a good state of repair and fit for purpose. So carrying out repairs like installing new Butler Roof Panels or laying utilities to convert them to offices are expenses you need to be aware of upfront.
Dog Park
If your spare land is in a populated residential area, busy city, or town with a high dog population, converting it into a dog park can be a great opportunity. You will need to comply with local ordinances, but private dog parks where people pay for their dogs to run in a secure area off-leash can be a great income stream to add to your otherwise unused land.
Pop Up Markets
If you want something less temporary and non-permanent, advertising your land for use or pop-up markets can be a great compromise. If people can access the land really, park around it, you can drive vehicles on it, erect stalls, etc., then pop-up markets can be a great way to generate income from unused land. It can have pumpkin patches for Halloween festivities; you can have Christmas tree markets, farmers markets, craft markets, or anything else our local community wants or needs.
Camping or RV Sites
If your land is in a rural area with lots of space or you live in or near a popular tourist attraction, then renting out space for campers or RVs to park up can be a great option for you. This is pretty popular right now, and talking to your local state to obtain the right permits and authorization is a must; however, catering to the nomadic lifestyle can make use of wasted space and help others out, too.