Do houses with granny flats = more rent?

[The_Bludger]

Hi, I've been painting and cleaning up one of my investment houses in Frankston which I was going to sell, but after spending the last 3 weekends there, I'm going to hold. It's got so much potential. Who knows when it will take off, but when it does, hold on.

Anyway, this 3 bedroom property has a double garage as well as a 2 bedroom granny flat with shower, toilet and vanity. The agent told me that a granny flat won't influence rental. I find this a bit hard to believe, as there's another two bedrooms and 2nd toilet\shower which really makes it a 5 bedroom\2 bathroom house. I would have thought an extra $30 a week at least? He's valued it at $320 per week, but I was kinda hoping for $350.

I can't rent it out separately without making some serious changes to the property which I'm not prepared on doing.

What are your experiences?

 

[Paul@PFI]

That's similar to my mate's experience we discussed Sat night. Has a very large house and land with a VG flat attached under. Very separate. Access etc...

All agents told him he could get higher rent for house without the GF as nobody paying $800pw+ wants an intruder. They reckon the $180pw for the GF is lost on the $200pw drop in rent for house if its occupied. Three out of three agents in Castle Hill NSW said same. However they did say that if they find a tenant specifically with a older parent/s etc then they may pay MORE to have all these features. This is often desirable in some suburbs with Chinese, European families etc Suggested it could take a long time to list and fill and he is in a high Chinse (high income) area. They felt if his total rent was $750-$900 it would be easier but maybe 60+ days to get the $1000pw + it deserves.

His GF is very high quality and well integrated into the house (under). House has 3 car garage with one isolated for the GF use (if needed) and separate access to yard etc.

He and I both felt that in lower rent areas it may be less an issue.

Just our thoughts over a few beers.

 

[nhg]

It just isn't the norm in some suburbs.

Sometimes this isn't a bad thing as you will be first in the market.

 

[skater]

The OP has a house in Frankston. I'm sure the rules are different in VIC.