In one of the judgments delivered in June 2020, Appellate Judges Agnes Murgor and Daniel Musinga gave hope to individuals who have stayed on a piece of land for a period of over 12 years. According to the Court, such individuals can own the land through adverse possession.
â€œAn action may not be brought by any person to recover the land after the end of twelve years from the date on which the right of action accrued to him or, if it first accrued to some person through whom he claims, to that person,â€ read part of the judgment.
So, how can you turn idle land into a lucrative venture?
Land leasing involves a contractual arrangement calling for the user to pay the owner for its use. Land leases will range from commercial, agricultural and residential usage.
In this case, land owners should have clear guidelines on the contractual agreement.
Professional evaluators should be engaged when coming up with the appropriate lease rate to avoid being undercut in the projected cash flow.
Renting for Events
Individuals with an open area can invest in landscaping the area and create beautiful scenes. Such spaces, especially when they are accessible can be ideal for private events such as product launches, community meetings, and weddings.
Did you know timber is pricey? Why not plant trees on your idle land, and smile to the bank years later? Trees that are highly recommended for timber mature between 10 and 15 years.
Softwood and hardwood trees have high demand in the construction sector. Softwood trees are commonly used in the construction of homes since they take a shorter time to mature.
In Kenya, pine trees commonly utilized in making door frames, flooring, and paving materials while Cedar trees are used in making drawers, chests, boxes.
With the biting shortage of milk and the price of animal feeds up, individuals with idle land can grow different varieties of pasture including napier grass. This can be sold while fresh or preserved in form of hay for use during dry weather seasons.
Individuals who have idle land in urban areas specifically residential and commercial areas can turn them into parking spaces and make money.
As more land is developed, in urban centres, parking space reduces. One can offer day and night parking services as long as the security of the vehicles is guaranteed.