Got some spare land that you want to turn into a revenue stream? With a bit of creativity, any vacant lot – urban or rural – can become a goldmine. You don’t even have to put in a lot of work to make it happen. In fact, as these ideas show, there are many passive income options.
Storage units
One simple solution could be to set up storage units. People are always looking for extra space to store boats, RVs, seasonal gear and other items they don’t have room for in their home. By building some storage containers on your land, you can then rent these out to people in your area and make a small bit of income each month. You’ll likely want to add some security features to put customers at ease, however there’s not much else you need to provide. It’s a low maintenance way to turn idle dirt into dollars.
Billboards
Posts on this site may contain sponsored content, paid link placements, or affiliate links. I may earn a commission or fee if you click a link or purchase through these recommendations at no additional cost to you.
Got land near a highway or busy road? Billboards are a fantastic passive income stream to consider in these instances. Many companies are willing to pay a lot for advertising space with high visibility. To install a billboard, partner with a signage company – they will take care of erecting and maintaining it, while securing ad sales and giving you a split of the revenue. Your land will need to meet height and setback rules, so bear this in mind.
Solar panels
An ideal monetization option for plots of land that receive lots of sun is solar panels. While these could be used to power your home and reduce your energy bills, you could also set up a solar farm and sell energy to suppliers or neighbors. Solar companies can lease the land from you and handle all the setup and energy distribution for you, while giving you a cut of the income the solar farm makes. This is a fantastic green way to make some extra income.
Cell towers
Cell towers are in high demand nowadays as more networks expand their 5G coverage. By looking into cell tower lease options, it’s possible to make money by allowing a telecom company to install a tower on your land. They rent the land from you and handle all installation and maintenance of the tower. The most prime locations tend to be high-elevation rural areas. Cell towers can also be placed on certain rooftops in urban areas.
Parking
You could also consider converting your land into a parking lot. In cities where spots are scarce, adding some parking bays and setting up a parking meter will almost certainly generate you some revenue. You can run this parking lot yourself or you can rent out the land to a parking company who will install the lot and set up payment solutions for you. In rural areas, you could even consider turning land into a truck spot or a basic RV park. Just make sure that you secure all necessary permits. Some people have even made money renting out their driveways, showing that you don’t even need a lot of land to explore this moneymaking option.
