Land is one of the oldest and simplest forms of rental real estate. Renting land can vary in its location and use, such as land in a rural area for agricultural endeavors, or an undeveloped lot in urban areas for storage. Overhead of land ownership is often lower than a comparable investment like an apartment building, but constant expenses still remain such as property taxes and maintenance upkeep.
What are Land Properties?
As it relates to real estate, land refers to the immovable and natural earth surface. Land ownership is determined by its defined boundaries that are documented and need not be shown on the land itself. These defined boundaries of land are collectively referred to as a “Lot” or a “Plot”.
Difference Between Land vs Real Estate
Although they are used interchangeably, there is a difference between the two. Land refers to the natural earth area only. Real Estate refers to everything in the definition of Land, plus everything that is permanently attached to the land, which can be natural (e.g. trees) or artificial (e.g. buildings).