How to maximize the rental return on granny flats?

Author: James Raad

Investing on granny flats makes sense as they add a great value to your property and can act as a secondary source of income. There have been significant legislative changes in Australia to encourage the growth of affordable housing in the capital areas.

Hence, the popularity of the granny flats in Sydney is growing steadily. Here are some tips to improve the rental return on your granny flat,

  • Parking

Parking spaces are very important to tenants, especially if they own a car. People who are looking for rental homes mainly focus on accommodations that come with a parking space, even if the rents are higher.

  • Pet-friendly

Make your space pet-friendly. As it is difficult to find rental areas that allow pets, your property would be on high-demand among pet-owners.

  • Location

It plays a very important role in enticing tenants. If your property is placed in a prime spot with easier access to schools, public transports and shopping areas, people would readily pay more.

  • Privacy

Talk with your granny flat builder in Sydney and take steps to make your property more private. Privacy matters for most of the tenants, specifically younger people. And they often look for spaces that are not disturbed and stay protected from the prying eyes of the neighbours.

  • Appliances

People would be willing to pay extra chargers for the additional comforts when you provide them with appliances like dish washers, air conditioning, heaters etc. Also, a well-furnished flat would appear cozy and attract more tenants.

  • Storage

With proper planning, you can add more storage areas in your granny flats regardless of the space constraints foisted by the State Environment Planning Policy. Your prospective tenants would really find extra storage spaces more appealing.

  • Design

If you want to charge higher rents, you need to have a great granny flat design in Sydney. By investing on quality fittings, sound proofing, window treatments, energy efficiency etc. you can earn more from your granny flats.

These features would not only help you to attract more people but gain better tenants.

The author is an interior designer. She is specialized in designing granny flats and has written various articles about granny flat designs and buildings. She recommends Amescorp for building granny flats in Sydney. To know more, visit https://grannyflatsbuilderssydney.com.au