Granny Flat income

Discussion in 'Granny Flats' started by klabat, 10th Aug, 2015.

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  1. klabat

    klabat Well-Known Member

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    4th Jul, 2015
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    Australia
    Hi guys,

    Wanting to ask.. how long does an income producing granny flat have to have in order to show the bank?

    I have a granny flat/extension (2br+bathroom+kitchenette) thats been renting for 3months for $360 per week.

    Wanting to use this income for future finance
     
    klabat, 10th Aug, 2015
    #1
  2. thatbum

    thatbum Well-Known Member

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    Perth, WA
    Do you have a written lease in place?
     
    thatbum, 10th Aug, 2015
    #2
  3. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Australia wide
    Immediately.
     
    Terry_w, 10th Aug, 2015
    #3
  4. Shahin_Afarin

    Shahin_Afarin Residential and Commercial Broker Business Member

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    Different lenders have different policies but most lenders will accept the above.

    Some lenders like Homeloans Ltd wont even accept proposed rental income so check it out before applying for a loan.
     
    Shahin_Afarin, 10th Aug, 2015
    #4