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Do you have vacant land but you’re not quite sure how to put it to good use? Perhaps additional land came bundled with your business property. Or maybe you have space lying adjacent to your family home. Wherever it is, it can be frustrating to have potentially valuable land sitting empty and unused.
It’s quite common to see unused city-center plots lying vacant. These spaces often provide a significant challenge because the land is too limited to build anything significant. On the other hand, the area might be too busy for building a home. Therefore, the land can end up unused and vacant.
However, with city-center land at a premium, these spaces could be a veritable goldmine if put to good use. Of course, much depends on where the land is located and the resources that may already be present. However, there are multiple ways you can profit from unused land.
If you own a plot of land that you’re not quite sure what to do with, here are a few ideas to get you thinking. With some effort and investment, you can put that vacant land to better use.
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Set up a Car Park
Depending on the size of the plot, setting up a car park can be a lucrative use of vacant land. This is particularly true of city-center space, where demand for parking is always high. A car park can be a low-maintenance solution to maximizing the worth of vacant space, requiring minimal effort on your part.
A modern car park management system can automate the running of your car park. It can even take remote bookings via cellphone to pre-allocate spaces. When integrated with CCTV systems, it’s possible to log cars by their registration plates. This will fully automate the billing and invoicing process. In fact, a smart car park can virtually run itself.
Erect Solar Panels on Vacant Land
Setting up solar panels is one of the most cost-effective solutions for putting vacant space to good use and start earning money. It’s also one of the easiest. As part of a move to a more environmentally sound world, many countries now don’t require planning permits for the erection of solar panels. However, to be completely certain, you should still check your local or national laws before putting up solar panels.
By erecting solar panels, you can choose to power your property directly from it, thereby saving on electricity costs. Alternatively, you can supply energy back to the grid for a fee. In fact, you could do both, by looking after your own needs first then giving the overflow to the utility companies. Solar power is a very lucrative way of making money from your spare land, again, with little maintenance or overhead.
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Offer Outdoor Advertising
Even in our digital age, billboards are still extremely common in both rural and city locations. Outdoor advertising is a cost-effective way for companies to reach a large number of potential consumers with a relatively small budget.
Depending on the location of your vacant land, you could charge top dollar to feature billboard advertising. Ideally, the land should be facing a busy road or junction. In other words, it needs to be somewhere that attracts significant traffic or footfall. However, it also needs enough space to allow a clear view of the advertising board from most angles.
Billboard advertising is best handled by one of the established global billboard provision companies. They will look after all aspects of the service for you, from setting up the advertising space to finding and billing the advertisers.
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Don’t Let Vacant Space Sit Idle
If you have vacant land and you haven’t known what to do with it, maybe these ideas have given you some inspiration. But if none of these suggestions hit you right, put your thinking cap on and get your creative juices flowing. There’s no reason why you shouldn’t put that vacant lot of yours to good use.
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