WARNING : I dont have too much experience in property management/development etc but just a thought i had, posted this up more as a discussion thread and to get feedback of my idea.
Just had a look at the AAHSEPP in regard to supporting new generation boarding houses and was wondering if this could be used as an avenue in building studio apartments.
http://www.planning.nsw.gov.au/Port...HSEPP Fact Sheet - Boarding Houses 200511.pdf
Positive from what i read :
_could be built in zones considered R2 as long as within close to public transport
-$10,000 grants per room (paid over 5 years)
-Notsure if this apply if to be built in r2 zone but additional 0.5:1 FSR
-Legally rent out to multiple unrelated tennants
-Higher rental returns than conventional house (and/or granny flat rental)
Negatives:
-Cannot be sold off individually (strata title etc)
-25 sqm per room (4x6.25 room could be ok for a small room with kitchenette and en suite for student/single accommodation)
-Needs a onsite manager if 20 + residents (would not consider building this many rooms)
- Needs a communal room if 5 or more rooms (not a big deal)
Im guessing in construction the main cost difference would be fire rated walls between rooms and the amount of en suites and kitchenette. Though if i was going to build i would cheap out on quality of bathrooms/kitchens just providing basics and maybe floating laminate flooring.
Also if designed correctly could the purpose of dwelling be changed to a residential property down the track (maybe 5-10 years) with internal arrangements changed?
Just had a look at the AAHSEPP in regard to supporting new generation boarding houses and was wondering if this could be used as an avenue in building studio apartments.
http://www.planning.nsw.gov.au/Port...HSEPP Fact Sheet - Boarding Houses 200511.pdf
Positive from what i read :
_could be built in zones considered R2 as long as within close to public transport
-$10,000 grants per room (paid over 5 years)
-Notsure if this apply if to be built in r2 zone but additional 0.5:1 FSR
-Legally rent out to multiple unrelated tennants
-Higher rental returns than conventional house (and/or granny flat rental)
Negatives:
-Cannot be sold off individually (strata title etc)
-25 sqm per room (4x6.25 room could be ok for a small room with kitchenette and en suite for student/single accommodation)
-Needs a onsite manager if 20 + residents (would not consider building this many rooms)
- Needs a communal room if 5 or more rooms (not a big deal)
Im guessing in construction the main cost difference would be fire rated walls between rooms and the amount of en suites and kitchenette. Though if i was going to build i would cheap out on quality of bathrooms/kitchens just providing basics and maybe floating laminate flooring.
Also if designed correctly could the purpose of dwelling be changed to a residential property down the track (maybe 5-10 years) with internal arrangements changed?