22 Apr 15
Many properties with houses already on the lot have the potential for a granny flat, and increasingly this is being done as a way to increase rental income with minimal investment.
For an outlay of approximately $120,000 you could achieve a great return of around $300 per week, depending on the area you live in. Our experienced Property Managers can advise you on what rent you could expect to achieve from a granny flat on your property.
Often adding a granny flat to your property will not impact the rental value of the main house. Once again our Property Management team can advise you on whether the granny flat you plan to add will affect the rent generated from the main house.
In general, when we talk about building a granny flat for rental purposes, we are talking about a flat with 2 bedrooms and 1 bathroom as this is where the demand lies.
The requirements of your property are not difficult and there are companies who can do everything for you. A complete granny flat package will include building approval and build pricing for a full kitchen and bathroom, all internal & external finishes, site costs and a tiled roof on a concrete slab.
Building a granny flat is a worthwhile option to consider for many property investors, as it can be a great way to increase your rental income. Whilst All Residential Real Estate does not recommend any specific granny flat companies, you can find more information about this subject on the websites below: