Real estate investing provides better returns than any other investment. Whether you buy land, a house, a commercial building, or a plot, the substantial benefits of these assets are remarkable. The potential of the real estate world is known to all. From renting the properties to listing them on Airbnbs or for media agencies to shoot or do promotions, there are umpteen ways you can make money out of your property. Property owners can increase their ROI (Return of Investment) by leasing the properties. Even if you have extra pairs of rooms in your house, you can turn into paying guest accommodation as well. Buniyad Realty Limited shares ways you can convert your property asset into a source of income from house property.

Commercial Property Rentals

The rental income from commercial properties is higher than that from residential properties. If your property is located in a commercial area, you can make more money than you can imagine. Renting a commercial property is one of the most appealing sources of income. The income can go up to 12–14 percent if the location is strategically good for business. Renting commercial properties tends to be for the long term, so investors can expect low turnover costs. No doubt, a well-located and well-equipped commercial property has the potential to increase its value. So, investors planning to buy properties for rentals should buy spaces in commercial areas. An average rental in Delhi NCR commercial area can generate between INR 75,000 and INR 2,00,000 depending on the location.

Mixed-Use Property Rentals

Renting out mixed-use properties that combine both residential and commercial spaces can lead to a sustainable and reliable passive source of income. You don’t have to invest in building mixed-use properties. Instead, if you have a multiple-story home, rent the ground to a retail shop and the upper floor as residential rentals. If you haven’t yet invested in a mixed-use property and are planning to buy, then focus on choosing the right location, which has the potential to lure both commercial and residential tenants. For example, buying properties near educational institutions, industrial areas, or commercially developed places with high traffic can increase the value of the property. It is one of the best and highest-returning income from house property.

Renting The Extra Property

The extra or accidental property, such as a vacation home, or extra home your spouse inherited from their family, has the potential to earn you passive income. While having an extra property is undoubtedly the best asset one could have, not using it for extra income is a waste of time and resources. You may consider renting out these extra homes or putting them on Airbnbs. While both are lucrative, renting ensures a steady and constant income. Having extra properties for rental purposes can help you gain more real estate equity and also bring a significant amount of passive income from house property that contributes to building generational wealth. Investing in such properties can also help you save on taxes. But it is better to consult with a tax professional.

Also Read: Industrial Property Trends in Greater Noida

Make A Profit From Parking

Delhi has over 7.7 million registered vehicles and also hosts vehicles from neighboring cities. Even though MCD has 417 parking lots, it can accommodate only 50,000 cars. So, if you have an unused driveway, especially in a society or city center with transport links close by, turn it into a parking lot. Car owners are always looking for safe areas to park their cars and they can pay anything to get a space. So, you can easily monetize your unused land by turning it into a functional parking lot. But before officially considering the idea, ensure the land adheres to local zoning laws and has insurance coverage.

In A Nutshell

If you have unused land and don’t want to invest in construction, you can still earn from your house property. You can easily rent the land for event hosting, such as marriage, religious functions, or parties, or rent it out to ad agencies for shooting. Those who have extra rooms in their own house can turn it into paying guest accommodation. Basically, if you are a property owner, there are umpteen ways you can earn passive income from house property.

For any real estate investment or ideas, get connected with a professional realtor like Buniyad Realty Limited, who has deep knowledge of the market and shares insights into the current real estate market trends.

Also Read: Why Is It Important To Hire a Property Dealer?