Granny Flat Research Paper

Know the reasons to invest in granny flats as rental property
The granny flats are built with the help of councils. There are many builders who are promoting the concept of building the granny flats on the back of suburban homes. There are clients who wish to buy a property and build a granny flat in order to increase the cash flow. These flats are becoming very popular as secondary dwellings. They aim to boost the housing that is affordable including land as well as plots. These flats are best for interior locations and may be the investors are not well informed. They can be used as a rental property for investment. The flats are built that is modern and custom designed. They can be easily modified and also renovated as per the preference of the tenant. It can be transferred from one tenant to the other. It can be built as a successful rental property but you have to consider certain factors.
Ways to own a granny flat
• This is a secondary dwelling in which you can convert or transform the bedroom that is unused in the home in the granny flat. This can be done under the approval of a governmental process. The external changes should be only done on the new entrance of the flats.
• The extension to garages can be constructed as an …show more content…
You have to maintain or else the tenant will not rent the place. If you are the landlord staying in the same place, then you have to be responsible to ensure that the shared space that you are using for rent is safe and usable. There can be tremendous outcome from renting a granny flat. It increases the value of the land by maximising the use of the land. There is also a growth in the income. It is an excellent beginning for any investor to rent granny flats. This has some extra considerations than the usual owner and tenant agreements. It also gives promising opportunities if you rent a granny flat and ensure that it is consistently