Hi,
Just wondering if anyone has had success renting out a Dual Occupancy property with an upstairs downstairs configuration?
I'm looking at a place on the south side of Brisbane in a blue chip suburb which has the option to rent out the top and bottom separately. I'm after any advice on what works or doesn't work with this method.
Pros:
- Higher then normal rental yields
- If there is a vacancy, half the rent will still come in if the agreements are staggered etc
Cons:
- Power and water are not separated (owner will have to cover costs)
- Are people prepared to rent out the bottom possibly hearing foot steps above. etc
I still need to do some Due Diligence with the council approvals etc. However can anyone fill me in on the types of council approvals needed? That would be much appreciated. (The sales agent tells me that only the building inspection certificate 21 is needed?) however I will check with council.
Any advice would be much appreciated.
Cheers
Just wondering if anyone has had success renting out a Dual Occupancy property with an upstairs downstairs configuration?
I'm looking at a place on the south side of Brisbane in a blue chip suburb which has the option to rent out the top and bottom separately. I'm after any advice on what works or doesn't work with this method.
Pros:
- Higher then normal rental yields
- If there is a vacancy, half the rent will still come in if the agreements are staggered etc
Cons:
- Power and water are not separated (owner will have to cover costs)
- Are people prepared to rent out the bottom possibly hearing foot steps above. etc
I still need to do some Due Diligence with the council approvals etc. However can anyone fill me in on the types of council approvals needed? That would be much appreciated. (The sales agent tells me that only the building inspection certificate 21 is needed?) however I will check with council.
Any advice would be much appreciated.
Cheers