Rental income from a granny flat in Canberra

What a great idea if you have the land to be able to create an extra rental income from a granny flat in Canberra. This can be income on land that you are paying rates on. Parents have a house that is comfortable, familiar and they don’t want to move as they get older, but they might be wanting their family closer, babysitting or even that little bit of help when needed and they have children/adults that are renting a unit or house – why not keep it all in the family and build a granny flat that you can rent to the kids at the market value or rent it independently for an extra income.

Why not build a granny flat which creates independence, privacy, your own driveway access with an allocated parking space, you can have a veranda and a porch the demand for this is very popular with the two-bedroom design.
The Granny flats are modern, personalised interior with all amenities included in the build.
This adds significant value to your existing property/house let alone the extra income that it will create.

How much rental income can I get from a Granny Flat in Canberra?

In Duffy ACT we have the one bedroom one-bathroom granny flat in the backyard and it will rent for $320 in the current 2017 market. The real estate agent said he could easily get anything from $320 – $345 for the one bedroom and $420 – $480 per week for the two-bedroom two-bathroom design.
Duffy is an older suburb of Canberra with larger blocks and really Canberra is spoilt with good size blocks. The agent said that if you were in the more up-market suburbs, for example, Forrest, Garran, O’Malley, Mawson, Hughes then the rental are increasingly higher and would be consistent with the current rental markets in Canberra.

Does a Granny Flat increase the Market Value of your Property?

It certainly does and it can be positively geared immediately if you rent it out. The value of your existing property increases as it now has two dwellings on it and looks amazing. The Pod that we built in Duffy is currently used as an office on one side and our daughter lives on the bedroom side with bathroom, wardrobes, kitchen, laundry and pantry… just to name a few. She moved back home from Sydney and she has her own privacy and independence. This works very well for both her and us – we love having her around.

If you want more information or have any questions on Granny flats and secondary residences in Canberra, contact www.ThePodCanberra.com.au or contact The Pod Canberra office on 02 6101 5917

The builders for the Pods are VRD Developments www.vrddevelopments.com.au