What with the real estate market these days, any area derives a high income but there are some uses for it that will bring you money hand over fist without question. Here are some excellent ways that you can make money.
Why take the risk with your own business when there are plenty of others looking for working areas? A service office in Singapore or two in each floor of your building will ensure that you get a comfortable and competitive amount of money each month. If ever the cost of living increases and you feel you need a little more money than you are getting, all you need to do is to raise the rent a little, and remind your tenants that there are plenty of other companies willing to take over their place. You can squeeze in more than one company on a floor if you manage to get soundproof partitions up.
Cities act as hubs so there is always someone on the lookout for a meeting room rental for employees, investors, shareholders or other interested parties to have meetings. This way, all you have to do initially is to invest in some comfortable chairs, some removable or foldable desks, slide projector, and a lectern or podium. Every time there is a conference or a small scale company wants to hold a quick meeting they can hire your area and bring in sounds. If there is a perfect room available, you can even offer them room to hire catering.
Another way to bank off the open area is to offer it for events such as exhibitions and cocktail parties, especially if there is a good view. Any accompanying furniture can be hired and brought in from outside and all you need to is to include the fee for a cleaners in the invoice and your ‘cost’ will be covered.
If you are willing to let go of your property for a few years, another lucrative venture is to rent or lease to bars and clubs. These establishments are extremely profitable because of their business model ensures a lot of customers and therefore you can charge a hefty amount as rent. You can also put in clauses that will safeguard your property, as bars and clubs usually suffer a lot of damage and you can make some money off of that too. Over the years, if the place becomes popular and raises the value of the property around it, you can seek to renegotiate the original deal as well.
The food and leisure sector and the corporate world are two of the most profitable industries that you can deal with so if you have some area going, look into them before considering any other options.