Two Room vs. One Bedroom Granny Flat (Comparison in Terms of Profitability and Comfort Living)
Classic Granny Flats Address: 37 Winton Road, Joondalup WA 6027 Phone: 9301 2122
Australians endear the potentials brought by building granny flats in their properties. Some benefit from having a single bedroom granny flat and others with two. Say, a family wants to have one for a teenage son who is bound to leave for college some months later. Should they choose to build a single room flat for their child or prepare two rooms for future renting out possibility? Here are the considerations:
State Regulations Some states have regulations regarding the space a granny flat must occupy. What frontage, square meters and zoning do you need? One should first get approval from zoning authorities and from an insurer as well. The decision will also be based on tax considerations. In response to rental shortage in Perth, councils approved renting out granny flats with non-family members since 2012. Most states in Australia allow building a granny flat given it has 450 square meter space. It pretty much depends on the specific estate it will be built.
Maintenance Flats with single bedroom are easier to maintain. These cut cost in cleaning especially those who plan to hire cleaning services. Other things like availability furniture and walking space will affect the renting appeal.
Earning Potential The earning potential is double with two bedroom flats. Most granny flats in WA are rented for maximum of $350 per week. If the owner can provide for extra garage, that can be a separate paying option for the tenant. However, the trick here is if split renting or boarding is permissible in a state.
Comfort More tenants means busier and noisier residence. This is the pitfall of renting out especially for those who prefer the quiet. Renting to only one person may be the best option. There is also lesser chance of dispute among shared spaces and facilities if the property owner is only dealing with one tenant. Granny flats in general propose a handsome income potential if this is the main goal of the owner. Living comforts and state laws are, however, options that need to be carefully considered before choosing between single, double or even multiple bedrooms. Resources: http://www.classicgrannyflatswa.com.au http://onproperty.com.au/should-i-build-a-granny-flat/ http ://www.acceptancefinance.com .au/thinking-getting-granny-flat/