Does your home have a teen pad, granny flat or garden cottage? If so, you could be sitting on a great source of extra income!
According to Jacqui Savage, National Rentals Manager for the Rawson Property Group, garden flatlets in some areas can earn good monthly rental income.
Here are her tips on how to get in on the action!
Maximise accessibility & independence
“One of the most common concerns we see from tenants looking at garden cottage-type rentals is how much privacy and independence they’ll have,” says Savage. “The more self-contained the unit, the more popular it’s likely to be, particularly if you’re hoping to secure long-term tenants.”
For owners, that means priority number one when preparing your granny flat for rental should be finding a way for your tenant to come and go independently. Think separate entrance, dedicated parking, and a discreet alarm system that can be activated without relying on the main house.
“If you can, adding a separate prepaid electricity meter is also a great idea,” says Savage. “The more self-sufficient you make your rental property, the easier it will be for you and your future tenants to manage.”