The real estate business is a viable, safe, and profitable business. Its uniqueness majorly lies in the fact that it allows for diversification. Diversification in the sense of multiple streams of income. Therefore, investors can make money in more than one way from renting office spaces.
Here are several ways investors make money from renting office spaces:
- Payment of Rent
When a real estate investor, such as the investors in Manbre Wharf business park, rents out an office apartment, they’re entitled to get paid for it. That particular payment is also known as rent, and it’s one of the major ways to make money from office space.
The rent could be paid monthly or yearly. Whatever the style of payment is, rent is a consistent source of money for investors.
- Charge For Using the Compound
Renting an office space isn’t the same thing as renting out the whole compound. As an investor, you can make money in two ways by renting the office space out while still retaining ownership of the enclosure. The implication of this is that you can charge more fees for certain benefits in the compound.
- Using The Office Space For Advertisement
As an investor, you can rent out your office space and allow an advertising agency to use it. Not only would you be collecting the rent for the office, but you would also be collecting commissions for allowing the space to be used as a form of advertisement.
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Asides from this, you can allow billboards to be in your rentals and collect the commission on it. You can also give access to some of your customers’ info strictly for advertising purposes.
- Rent Out A Corner Of The Office Space
Due to the proliferation of small scale business, most young entrepreneurs just want to take a small corner they can use as an office. As an investor, you can make more money by renting out a corner of the office.
You can make a mini demarcation from the original office to afford the young entrepreneur some level of comfort and privacy to work. Doing so allows you to get more money from a single space.
- Rent Out Some Office Equipment
Another way you can make money out of renting spaces is by renting out your office equipment.
Working during the weekdays means that your weekend is going to be free. Instead of allowing the office space and equipment to be redundant on weekends, you can rent out office tables, chairs, printers, etc., and make money.
- Use The Office Creatively
Beyond the files and paper works, you can creatively use an office space to get more money. For instance, you can use it to provide extra services that suit your fancy, such as consultation services, secretarial duties, mailing services, etc.
As an investor, you should always be on the search for more ways to make money from your investments. Owning an office space is a great investment that can make you more money than just the rent. Instead of simply renting out your office space, following the tips above can help you make more out of your investment.
With over ten years of writing experience, Wesley Mathis has gained thousands of readers worldwide. Wesley focuses on writing business-related articles and often submits pieces to other business blogs and articles.