Do you have so much farmland that you don’t know what to do with it? You can turn your acreage into cash by leasing it out or starting a farming business. Here are four ways you can earn from farmland to help you generate some extra income from your vacant plot.
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Sell Goods at the Farmer’s Market
One of the best ways you can earn from farmland is to sell homegrown produce, eggs, honey, or meat. Consumers are often willing to pay a premium for fresh, local food, so farming can be quite profitable. You can sell your wares at farmer’s markets in your area or set up a roadside stand on your property if you live on a busy street.
Lease the Land
If you don’t want to farm your land, someone else in your area may want to. Farmers and ranchers often lease land to grow crops or graze animals. Depending on the value of farmland in your area, you could earn anywhere from $50 an acre to $200 an acre per year. If you own a large plot, this could amount to thousands of dollars of passive income every year.
Finding someone to lease your land is easy now thanks to the internet. You can let farmers know your land is available by posting on Craigslist, Facebook Marketplace, or farmland leasing marketplace like Tillable or LandLease.
Another option to consider is leasing your farmland to hunters during hunting season. However, you can only charge about $10 to $50 per acre for a seasonal hunting lease. So you’ll earn more money by renting your land to farmers rather than hunters.
Rent the Land to RV Owners
Many people have decided to live in RVs, vans, and tiny homes as a way to save money on rent. But they often need a place to park their vehicle when they’re not on the road. If you have utilities on your land, you can rent spaces out to RV owners and charge a couple hundred dollars per month.
Even if you don’t have water and electric, some tiny homes and RVs are set up to operate off-grid. So you may still be able to rent your land to RV owners who don’t need utilities.
Set Up a Campsite
Another option if you don’t have utilities on your farmland is to set up an off-grid campsite. You can either provide tents or just give visitors a place to pitch their own for a few days. However, the more amenities you offer, the more you can charge.
You may only be able to command a few dollars a night if all you’re giving guests is a patch of grass to sleep on. But if you create a more luxurious glamping experience, you may be able to up your rates to $100 a night.
Consider investing in nice canvas tents and building wooden decks so visitors don’t have to sleep on the wet ground. Adding a cot, rugs, and some small decor touches can make the tents more comfortable, enabling you to earn more money from your campsite.
How do you make money off of your farmland? Let us know in the comments section below!
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Vicky Monroe is a freelance personal finance and lifestyle writer. When she’s not busy writing about her favorite money saving hacks or tinkering with her budget spreadsheets, she likes to travel, garden, and cook healthy vegetarian meals.
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