For many people their land is more than an
asset — it’s their home, their business, and
often part of their family heritage. And while
some are content with simply owning
property for their own enjoyment, others may
find that land ownership is a financial strain.
It doesn’t have to be this way. More and
more, people are realizing that they can
benefit financially from innovative land uses
while protecting their property as a
sustainable resource and wildlife habitat.
With this goal in mind, it is clear that good
business planning and a sound knowledge of
tax regulations and property rights are not
things to be taken lightly. Businesses need
more than money and dreams to keep them
alive and profitable; they also need to be
This Extension Note is a summary of the
LandOwner Resource Centre’s (LRC)
planning guide for property owners entitled
Making Your Woodland Pay, Financial
Aspects of Property Management. It highlights
the advice outlined in the guide and focuses
on the economic benefits of owning land.
Making Your Woodland Pay promotes a
business-like approach to rural property
ownership, while encouraging healthy land-
use decisions. The goal is to give readers an
incentive to try new business ventures and
provide them with a basic understanding
of the financial, tax and legal aspects of
A BUSINESS APPROACH TO OWNING
WHAT ARE THE NEW OPPORTUNITIES?
While traditional woodlot products like lumber,
fuelwood and maple syrup will always be mainstays of
our industry, there are many opportunities that woodland
owners have yet to tap. We’re continually seeing new
examples of emerging products and services from across
North America. The lesson is simple; landowners must
constantly seek out new business niches by recognizing
emerging trends in new products and the way we live.
Consider these demographic changes:
• Canada has an aging population. Babyboomers, now
approaching retirement, will have greater disposable
income than any previous generation.
• An older, more envi