Dual income property

Discussion in 'What to buy' started by robbie_p, 20th Apr, 2020.

Join Australia's most dynamic and respected property investment community
  1. robbie_p

    robbie_p Well-Known Member

    Joined:
    22nd Jun, 2015
    Posts:
    689
    Location:
    Brisbane
    Hi All,

    I currently live in the Bayside suburbs in Brisbane and I am looking to buy PPOR in the coming 6 - 12 months as i feel there could be some good buying opportunities.

    I really like the idea of a 3 bedroom family home with the option of adding a granny flat at a later stage to create a dual income while im living there or when i move out.

    What sort of properties should i be looking at if my intentions are to build a granny flat? What should I keep in mind or consider?

    Thanks in advance.

    Cheers,
    Robbie
     
  2. wylie

    wylie Moderator Staff Member

    Joined:
    18th Jun, 2015
    Posts:
    10,129
    Location:
    Brisbane
    You are looking outside BCC if you want legal dual income?
     
    Archaon likes this.
  3. robbie_p

    robbie_p Well-Known Member

    Joined:
    22nd Jun, 2015
    Posts:
    689
    Location:
    Brisbane
    Aahhh, so BCC doesnt allow for dual income or granny flats?
     
  4. Lindsay_W

    Lindsay_W Well-Known Member

    Joined:
    1st Jul, 2015
    Posts:
    2,465
    Location:
    QLD
    I thought they did allow them, except only when rented to family members?
     
  5. wylie

    wylie Moderator Staff Member

    Joined:
    18th Jun, 2015
    Posts:
    10,129
    Location:
    Brisbane
    I'm not sure if you can rent them to family members. I thought they were for the use of family members, grannies or teens or whatever, but not to earn income from.

    @RPI will know the answer.
     
    Lindsay_W likes this.
  6. Marg4000

    Marg4000 Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    4,888
    Location:
    Qld
    They cannot be rented separately to the main house, so no dual income possible. Two separate leases are not allowed.

    Technically you could live in the main house and rent the flat to a close relative, like granny!

    BCC are very strict, and will act quickly on any infringement. Avoid like the plague (or Covid!) any RE agent or PM who tells you differently.
     
    ellejay and Pingu1988 like this.
  7. Lindsay_W

    Lindsay_W Well-Known Member

    Joined:
    1st Jul, 2015
    Posts:
    2,465
    Location:
    QLD
    Ok that was my understanding
     
  8. robbie_p

    robbie_p Well-Known Member

    Joined:
    22nd Jun, 2015
    Posts:
    689
    Location:
    Brisbane
    How about the Redland bay council?
     
  9. robbie_p

    robbie_p Well-Known Member

    Joined:
    22nd Jun, 2015
    Posts:
    689
    Location:
    Brisbane
  10. Marg4000

    Marg4000 Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    4,888
    Location:
    Qld

    No.

    How is that different to living in the house and renting the granny flat?

    If you have your heart set on a genuine dual income property, look for a locality where separate leases are legal.
     
    Lindsay_W, Beano and wylie like this.
  11. Tom Rivera

    Tom Rivera Property Manager Business Member

    Joined:
    1st Jul, 2015
    Posts:
    2,142
    Location:
    South East Queensland
    Logan, Ipswich and Moreton Shire allow dual-occupancy/auxiliary dwelling properties with separately leased parties. Gold Coast has mixed feelings on the matter. Brisbane and Redlands do not allow them at all.
     
  12. robbie_p

    robbie_p Well-Known Member

    Joined:
    22nd Jun, 2015
    Posts:
    689
    Location:
    Brisbane
    @Tom Rivera Thanks Tom, much appreciated! As I'm currently based in the Bayside suburbs, If i did go down the "dual income" route, I may lean towards Logan (Daisy Hill, Springwood, Rochdale etc).

    What your thoughts on these suburbs, compared to Moreton Bay, in terms of good fundamentals and tenant demand? Are granny flats easily rentable in these areas?
     
    Tom Rivera likes this.
  13. Tom Rivera

    Tom Rivera Property Manager Business Member

    Joined:
    1st Jul, 2015
    Posts:
    2,142
    Location:
    South East Queensland
    You've just listed the 'Upper-logan' suburbs, which have a much more 'Brisbane-like' demographic than Greater-Logan. I'm sure there's comparable areas in Moreton Bay, but I'd think the specifically listed suburbs are largely going to be superior.

    Well designed auxiliary dwellings are a dream to rent, east of the highway you're looking at $325-$350wk.
     
  14. mr_alex

    mr_alex Well-Known Member

    Joined:
    28th Jan, 2017
    Posts:
    167
    Location:
    Gold Coast
    Is there any legal way of doing this in BCC? Say if you apply for the same registrations as boarding houses but just for a house and granny flat, or are there provisions each 'dwelling' cannot be self contained (they can't have individual cooking and laundry facilities)