West Syd GF rentability?

[TMNT]

Just curious, just 12-24 months ago, building GFs in west sys or surrounds, was the trend,
With often what I thought too high rentals, eg $300 for the front house and $290 for the rear one,

I was a bit sceptical for the front house rent not plummeting , and whether people would rent a GF for $300, plus finding someone who would want or be happy with that arrangements

Fast fwd a bit, things have calmed down and the GF spruiking has calmed,

What's peoples experiences on projected rents front and back and ease of renting?

 

[saiman]

I am noticing demand is creeping up with my recent experience renting out my 2 bed granny flat in Blacktown.

Could be people getting priced out in Sydney resorting to renting again.

Took 3 days to re-tenant and had many people knocking on doors offering above advertised rent (many with poor references but obviously new into the country)

Rent is $360

 

[Biz]

No issue. Front house though does rent for 5-10% less i have found.

If you are thinking of buying and building in Sydney though good luck! To me the numbers just dont stack for these like they used to. Need to let rents catch up.

 

[RetireRich101]

Despite my PM telling me in the last 12months that demand for GF is soft, the maximum time took to rent a GF is 2 weeks. The 2 bed unit was a chopped up a large dwelling so floor plan/access/privacy isn't that good. They had to share backyard which i cant fence off. This front house is rented $420, while the attached GF is rented $315.

I look for 2 bed unit for comparison. The 2 bed unit in the suburb is $380. If your GF build has good side access, privacy etc, your rent for the GF shouldn't be too far from cost of renting a 2 bed apartment.

The demand for GF include people who have pets, and also noise is smaller compared to an apartment complex.

 

[datto]

GFs are better than living in most units. You got more room, less neighbours, more land. I think tenants have to put a GF into perspective. A nicely constructed GF on a corner block with some land and its own driveway will win hands down over most units IMO.

 

[neK]

GFs are better than living in most units. You got more room, less neighbours, more land. I think tenants have to put a GF into perspective. A nicely constructed GF on a corner block with some land and its own driveway will win hands down over most units IMO.

Yep. Granny flats done right can return very nicely.

House - $750 (4 bed, 2 car), Granny Flat $600 (2 bed + 1 detached 3.5x3.5 storage room, 1 car) - both are of the same quality - existing house was gutted and completely renovated head to toe.

House - $460 (3 bed, street parking - unrenovated), Granny Flat $470 (2 bed + existing garage plus additional room for 3 cars).

They are always marketed as houses and not granny flats.

I've also added 3.5 x 5m undercover areas to the granny flats with a large sliding door to make it feel larger than it is.

 

[datto]

Nice one neK. A good GF with inclusions eg garage covered patio are good value. Sure it may be the poor cousin to a standalone house on its own block but its better than most alternatives.

A tenant can come home,have a beer, car in the driveway and less likely to get annoyed by neighbours.

 

[TMNT]

Well done everyone!
I was a bit skeptical add some of the gfs were coming close to 100k or above and i wad thinking. Another 30k odd more and you might have a proper unit

That's a lesson learnt for me