When you want a steady stream of income, but don’t want to sell your site, leasing your website can be an attractive option.
The first decision to make is whether you will lease the whole website or just space on it for advertising.
If you’re looking to lease advertising space, it’s time to consider which areas of your site you’re willing to give up and the types of ads you’re willing to put on your site.
After all, advertisements that portray your site in a bad light, are poorly located, or target a different demographic than your visitors are unlikely to be worth the rental revenues.
In addition, you should consider whether the advertising will be exclusive.
For example, if your site is about dental hygiene, will you lease advertising space to only one dentist or several? Will they be competitors or located in different geographic areas?
If you decide to lease the entire site, you’ll have to make a decision as to the length (term) of the website lease, the scope of content changes that can be made by your online tenant, and many other key terms to protect your rights. This includes time and manner of payment, renewal terms for your site lease, and what triggers termination of the website rental agreement.
Whether you’re leasing space or the entire website, it’s important to get your lease agreement in writing, just as you would with a lease of real estate. Your Internet lawyer can create a professional lease template you can use repeatedly to lease your site or ad space on it as-needed.
If you’d like to get started earning extra income with website leasing, set up a telephone consultation with Internet Lawyer Mike Young.