That little space could be your side income
Apr 30, 2015
With the need to diversify income, many people are doing a number of things to earn something for a living. Whereas the options available are unlimited, but do you know how you can utilize your small land.
By Umar Nsubuga
With the need to diversify income, many people are doing a number of things to earn something for a living. Whereas the options available are unlimited, but do you know how you can utilize your small land.
It is also possible to get some extra money from the house which you live in, if you are ready to do it.
Abdu-Wahab Nyanzi an architect at JR Consultants says you can convert part of your house into a rentable unit that could earn you that extra income.
For example the amount of land available for profitable rental investment is usually costly yet some people find themselves owning homes in those areas with limited options to leave.
Nyanzi says if you find yourself in such a situation you should not get worried much because there could be a solution.
“The key thing before starting is to appoint a qualified architect to assist you with this delicate project. The architect shall carefully analyse your need and put it forward proposal that could help solve your challenge. It is not advisable to do it alone because things can go terribly wrong”.
How you may do it
Refurbishing your house to create a separate wing for a tenant
Some people out there may be in a situation where they built a big house in their early years. But find that they don’t need a house as big in their old age.
Some of the rooms may be empty or wait to be used by visitors once in a while. For a person who is open minded might benefit from converting part of this big house into a rentable apartment.
“This conversion must be done with the help of an Architect to avoid mistakes. Care has to be taken to ensure that the two parties, tenant and landlord live harmoniously together. Issues like access to the house and observing privacy for both parties can be challenging to balance”, he says.
Use part of your compound to build rental units
Nyanzi says one can apportion part of the compound to build rentable apartments or commercial rentals.
“The options range from storied developments to single level units. This all depends on how much land is available for this purpose. To avoid any mistakes, the developer should engage an Architect as soon as they conceive such an idea”, he advises.
When working on your compound, the architect has to make sure that there are enough parking spaces, access routes are clear and road reserves are not encroached upon. It is also important to ensure that the development made is marketable and meets that client’s needs.
Add another floor(s) to your house.
Nyanzi says this is one of the most complex options available. In its worst scenario, the roof to the existing house might have to be removed completely to give way to construction of slabs.
The Architect involved should ensure that the new units work harmoniously with the existing. Installations like staircases should be located conveniently to allow quiet enjoyment of the premises for all.
The architect will also explore options of onsite accommodation if the landlord does not have another alternative.
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