How to rent a Dual Occ Granny Flat

I've been a keen learner from the forum and have been reading posts even before I became a registered member. Rather than posting questions that have been asked before, i preferred going through previous posts. But this time I'm stuck. Please help.

How do you rent out a Dual Occ Granny Flat?

Do realestate agents handle them? I couldn't find any rental advt on realestate.com.

@euro73 - Been reading your views on Dual Occu and NRAS. Do you fence off your granny flats?

Please be gentle on my first post. Excuse any ignorance.

 

Yes. They are fenced off. They are also individually metered and then they are individually rented

 

Here a some examples of the Dual Occ product I sell in Orange and Bathurst ....

As you can see, we basically have 4 types of configuration available, depending on the lot dimensions and locations. Corner Lot. Narrow Rectangular Lot. Rectangular Lot. Cul De Sac Lot.

The dwellings themselves are pretty much identical...the only real difference is how the house and granny flat are placed on the lot.

Some of the examples below are marked up with fence lines so you can see how the two dwellings are private from each other ...

Corner lot .





Attached under one roof - for narrower rectangular lots



Detached. cul de sac - wedge shaped lots





Detached - Regular Lots

 

Hi @euro73

Thanks for your detailed response.

1. Do you rent out the property i.e both the granny flat and main house through the real estate agent or do you managed it yourself?

2. On some of the plans, the fencing is clearly marked? Does the councils permit two fences on the same property or is it some sort of low fence (just to clearly mark off the two areas).

Does the council need to be aware of the fence off and the intention to rent out the granny flat separately? or is it none of their business in NSW?

3. What sort of rent can we expect for a) Main house b) Granny flat

4.What is the cost of buying these sort of properties say in Bathurst?

5. Are we talking of new build or existing houses?

6. Do you build them yourself?

7. Do arrange the loans as well?

8. What NRAS options are currently available?

Any chance I can catch up with you in Bathurst for an inspection of an existing property and to fully understand the investment options and how to proceed?

Please feel free to PM me (not sure whether Private Messages work on PC) if these questions are meant to be answered in private.

 

I have 7 x 4 bedroom townhouses soon to be available in Gosnells WA . They are completed and I'm only awaiting NRAS substitution approvals before I sell them. They will go very quickly if they get approved...as they are affordable ( sub 500K ) and some of the last available NRAS anywhere in the country . I think many people are starting to realise Perth has bottomed and that its just about time to start investing there with a 10 year outlook .... . Should know whether they have been approved in @ 4 weeks.

I have 8 x 2 bedroom apartments soon to be available in Westmead, NSW. They are completed and just like the Gosnells properties above, Im awaiting NRAS substitution approvals. Should know whether they have been approved in @ 4 weeks. These would be good for a longer term investor such as an SMSF, who wants to take a 15-20 year outlook but still wants strong cash flow. Westmead is one of the very few suburbs in Sydney that still has strong potential. It has a massive hospital precinct, it is right next door to Parramatta , it has light rail coming and it also has new heavy rail coming...


I have 6 x 3 bedroom townhouses coming in Goulburn NSW. The NRAS is already approved, just waiting on construction to commence... There have been a number of false starts on this development so I wont sell any more of them ( there are 28 available and I have sold 22) until they are well underway. So consider these a "maybe"

I also have a handful of NRAS approved 2 bedroom apartments available in Merrylands and in Harris Park NSW. The properties are tenanted- they were retained by the developers The NRAS is active - there's @ 8 years left or thereabouts . The developers dont need to sell but are willing to sell if the right offer comes along. They are asking low 600's for the 2 bedders ... as the first actual buyers, someone purchasing one of these would still get full depreciation....

Other than that Im not really aware of any other NRAS opportunities anywhere else.... other than the occasional 2nd hand resale you can find online....

 

They are all tenanted, so I cant provide access. I have 4 in Orange which just reached practical completion and got OC last week.... you could certainly look at those before they settle and get tenanted in @ 2 weeks.... They are the same builder...same floor plans.... and I just saved you a 40 minute drive from Orange to Bathurst

 

It would be very helpful if you could arrange inspection of the 4 properties on Saturday 3rd March 9.30 onwards.

Thanks for the detailed reply. I will look into NRAS option. I've been looking for a clear strategy for last few months. Negatively geared properties didn't make much sense.

Is the Granny flat 1 bedroom or studio? Where does the granny flat tenant park their car?

Where are you based? Is there any chance to catch up with you?

 

PM'd

 

@euro73 Why are all the designs 1 bedder when you can easily create 2 bedrooms ?

 

Common question. Answer is - the living room, the kitchen and very likely the bathroom/laundry would have to be reduced quite a bit to do a good sized 2nd bedroom . We have looked at it more than once and every time we do, we conclude that a spacious 1 bedder wins the day over what would be a shoe box 2 bedder.

We have had a number of investors and a number of tenancy managers come through the completed product as well, and we have asked them for their views. Without exception , everyone who has inspected the product agreed that a 2 bedder would just feel too cramped.