If you own lots of land and don’t plan on selling it, renting it out is a good way to make Ls, pay off your tier fees and hopefully have a bit left to play with. When you rent land, there are a couple extra dimensions to think about. Remember to get a rent cube! See page 9 of this guide.
Renters usually don’t want to have to do a lot of set up. They want to find a nice shop or home already set up for them, move in their belongings or goods, and then get going. So if you’re thinking of renting, you may want to consider if you have the skill to build a mall, condos and the like. You could always hire out the work to an experienced builder.
You could also just rent out pieces of your land, and let your tenants create their own space. This is a less attractive option, and you’ll probably have to charge less rent because you are only providing land, not a set up space.

Knowing that you’ll help them generate traffic for their business is also an attractive little selling point. Section 7 in this guide is all about hosting events and getting people to your property. Shop owners will pay more to set up in an area that already has lots of traffic. Ice Dragon’s playpen is a great example. They’ve got games like Tringo and Slingo set up, completely funded by those playing the game. They’re regularly at the top of the “Popular Places” tab, generating lots of dwell and rent drawing traffic. You get all the benefits and bonuses from the traffic by generating dwell, and the renters get an already existing customer traffic base. It’s win-win!
Another nice touch you can add to your rental to get cash flowing in is to add some avatar animations to the property. A beach house with some massage, dining and adult animations would look attractive to a couple looking to get away and live out a fantasy. Renting out a club with dancing animations is another possibility. You can usually buy these at a reasonable price or learn how to create them yourself. See Section 6 for more information on animations.
All this may sound intimidating, and it can be for somebody just jumping into the game. Joining a group to learn, pool resources and share the work load is a good way to go. Section 9 is all about groups and their benefits.