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You have all given me something to think about and you all rightly point out that there are many dangers and pitfalls. I wonder if some of those would disappear if I lived in the house and simply rented the rest of the rooms out in an informal boarding situation like is often done via flat...

No, I got into trouble for having the house divided into 2 flats of 2 bedrooms each.

I just need to maximize the return on the house as I no longer work and the rent needs to cover all costs so I'm presuming that renting by the room ($200 x 4) will get me more return than renting at the local market rate (approx $450). Letting a room at a time ? Is this the way to go?

The "3" was suggested by my REA who is in favour of just putting it up and saying groups are welcome, he seems to think 3 people is an ideal number even though the house has 4 (and potentially 5) bedrooms, 2 kitchens, 2 laundry ( one is a small euro-laundry, in a cupboard) and 3 bathrooms...

Caught with unlawful development, is renting to a group the way to go ??? Hi everyone. I have a house in Melbournes eastern suburbs which I have turned into two x 2 bedroom flats without Council approval. Council caught me and required me to turn it back into a single dwelling ( no problem, I...