No matter how you look at it, your property is an investment. Whether you’re still working your way through a mortgage or have paid off your land, you want to be getting the most value for your property. Much of this is accomplished before the point of sale by making an informed purchase that you believe will appreciate in value. Still, there’s no reason that your property can’t be providing you passive income year-round. Take a look at these three great ways to draw income from your property:
1) Conservation Reserve Program
If you own farmland with highly erodible or environmentally sensitive areas, you may stand to make passive income through the United States Department of Agriculture’s Conservation Reserve Program. The program rewards rural landowners for converting some of their more volatile land into environmentally sustainable property. More information can be found here.
2) Maximize Your Property Value
Owning rural land affords you the opportunity to engage in agricultural practices that are simply unattainable in more densely-populated areas. If you’re looking to draw passive income from your property, farming even a few crops can lead to a considerable betterment of your bottom line. What’s more - your land is likely to appreciate in value over time while you're earning passive income through agricultural practices - making your passive benefit a classic ‘two birds with one stone’ situation.
3) Lease Your Land
The most obvious - but perhaps the most useful - way to monetize your property and create passive income is through renting your space out to other outdoorsmen and hunters. The recent increase of popularity in land leasing has allowed landowners more autonomy than ever before. At FoggyTrail, we’ve established a community of respectful, passionate, nature-loving individuals looking to rent properties like yours. List your site with us today and start earning passive income!