I have an IP (3 bedroom house) with 570/w rental. The tenants have been staying for a year and they are quite good.
I'm planning to build a granny flat at the backyard of the IP. In the contract the tenants have agreed that I can build a granny flat but the rental will be re-negotiated.
Certainly the construction will disturb the tentants. I'm wondering how much I should drop the rental during the construction of the granny flat, 30%, 50% or even more? I want to be fair. Has anyone here done this before and what are your suggestions?
Many thanks for your insight!
I'm planning to build a granny flat at the backyard of the IP. In the contract the tenants have agreed that I can build a granny flat but the rental will be re-negotiated.
Certainly the construction will disturb the tentants. I'm wondering how much I should drop the rental during the construction of the granny flat, 30%, 50% or even more? I want to be fair. Has anyone here done this before and what are your suggestions?
Many thanks for your insight!