Hi, I'm after a buyers agent in Adelaide. Type of property I'm looking for: Good location for short term ABnB letting Renovation potential Granny flat potential positive cash flow if long term letting Within 30min of CBD Any recommendation? Any positive experiences to share? TIA. Cheers Shane
Just a tip - renting granny flats separately isn't legal in SA. Just curious, what draws you to short term letting?
Quite a few people have used the services of @DaveM in Adelaide. I think you'll need to make some compromises in your requirements though.
Two very different sets of requirements from what I can see. Airbnb typically want close to city, whereas cf+ long term rental will be outer suburbs. Adelaide is still pretty affordable, so you could consider a near city apartment/townhouse for airbnb and then a good yielder further out to spread risk.
I haven't fully researched the legals, but I was thinking of getting a private certifier to reclassify the property to a 1B classification. I thought then you could rent out a granny flat. I was after short term letting as I want to use this property as for my own use while I'm in Adelaide approx. 30% and rent out the remainder. In 2 years time or so, it will become a full time rental.
Yes that may be the case. I think Glenelg (Nth/Sth), Morphetville areas is good for ABnB but finding something with enough land for a granny flat, will probably mean it won't be positive cash flow. Maybe Semaphore/Birkenhead area, but the short term letting demand would be a fair bit less. The short term letting is probably the least important criteria, as this is only a short term requirement anyway. I was just thinking the property will be available to rent ~60% so might as well take it into consideration.
Yeah, that's why I was thinking granny flat (if legal). As I could probably get 10-15% ROI for GF alone, perhaps +6% combined.
Glenelg area would be terrific for that, but cost more to enter the market as a result. Semaphore could certainly work, it has the beach, some charm and some tourist attractions but not quite as good. Not sure Birkenhead / Morphettville would achieve regular visitors. This is all from a short term rental point of view of course, opinions on the above change a lot when long term rentals are considered.
I might start a new thread for this topic but will post here first. Or if this topic has previously been discussed, please point me to the thread. Does anybody have experience reclassifying a property from Class 1A to Class 1B in Adelaide? http://www.cityofadelaide.com.au/assets/documents/FORM-development-assessment-application.pdf Class 1A: A single dwelling including detached houses, town houses and villa units. Class 1B A guest house, boarding house or the like accommodating not more than 12 persons and not exceeding 300 square metres You can do this through the council or can get a private certifier. Could be an option for ABnB style investment, with granny flat etc.- but may limit all other possibilities
