Most people buy land in Kenya for different purposes including commercial use, residential and speculative.
Sometimes, funds for either commercial or residential development might not be available, hence the land could lie idle for some time.
This should not be the case, as land can be used for other income-generating activities before one gets enough money for development or the intended purposes.
Here are some ways you can use your vacant plot to make money or benefit you in away.
1. Lease it
There is always a person wishing to use your land for commercial purposes without having to buy it. You can allow them to use it at a fee, for a specific period of time. Make sure that your agreement is written down and legal aspects are catered for to avoid future conflicts.
Most of the people who would like to use such land could be foreign investors, who might want to live shortly in the country.
For instance, having a plot in Joska could be a fine opportunity due to the development of the Greater Eastern Bypass which is proposed to connect Thika-Garissa Highway through Lakenya Hills, and Mombasa road.
In such an instance, your plot could be leased by contractors to have their station, and in the end, you are left with your land and money.
Any piece of land can be used for farming instead of letting it lie idle unless it is not suitable. If there is sufficient water, one can use it for all-season farming through irrigation.
In modern society, people are embracing new farming technologies where you can reap millions from a piece of land as small as an eighth of an acre, such as greenhouse farming.
Around Nairobi, most of the soil is black cotton soil, which is suitable for farming by irrigation.
Sometimes one might say s/he is too busy for farming, but you can still hire someone to do the farming on your behalf, as you reap the profits. This could apply to speculative and residential property.
One of the best places you can get such land is along Kangundo Road in areas such as Joska, Kamulu, and Malaa where there is a shift in demand and supply of land for all purposes.
Farming could also entail planting seedlings for sale, especially in areas where people are planning to buy residential land.
In areas where towns are developing very fast, people are looking for warehouses to store their goods for trade. This could be the best opportunity for commercial purposes without having immediate plans for development.
You can build temporary warehouses or allow investors to build, as you collect monthly rent for those getting warehousing facilities.
4. Event hosting
Depending on the location of your property, you can allow people to host events in your plot at a fee, instead of letting it lie idle.
This can mostly happen during the weekends to hold events such as weddings and other celebrations.
All you have to do is make the plot presentable and partner with other business entities who can provide facilities such as tents, food and drinks, entertainment and security.