Easy ways to create extra income from your property
With prices on the rise and affordability a constant topic of discussion, many Namibians are looking for practical ways to stretch their budgets.One of the smartest assets to leverage is property. Whether you own your home, are still paying it off, or have invested in additional real estate, several simple strategies can help you generate extra income from your property.
According to REMAX Southern Africa, one of the most popular and effective ways to earn extra income is by renting out a portion of your home. This could be a separate entrance, garden cottage, or converted garage. With more people seeking affordable rental options close to work, schools, or transport routes, smaller living spaces such as these can attract reliable tenants.
Another option is short-term rental. This has grown in popularity in many areas, especially those near business hubs, tourist attractions, and universities. Homeowners who have a spare room or a separate unit can potentially earn more than they would through a long-term rental, provided they are willing to manage guests, cleaning, and booking schedules. This approach works particularly well for those with properties in sought-after neighbourhoods where demand fluctuates throughout the year.
REMAX Southern Africa advises homeowners to always take the right precautions before turning their property into an income stream. This includes reviewing local by-laws, checking bond or insurance requirements, screening tenants carefully, and working with qualified property professionals who understand the market. By taking the right steps, homeowners can unlock value from their property and create a more financially secure future.
