The amount of rent you can charge a tenant for a granny flat depends on 3 important factors:
- The location of the granny flat
- The number of bedrooms (one or two)
- The inclusions (dishwasher, air conditioning etc)
- The quality of the building
The most reliable way of estimating the rental of a granny flat is to talk to your local real estate agent. In almost every case their senior property manager will be able to accurately tell you how much rent you can expect, how high or low the demand is for rental properties in your location and how long you could expect the average tenant to rent your property before moving on.
Your local agent will also be your best avenue to find a tenant and ensure that the rental and security bond agreements are executed correctly and that the rent is paid on time. In fact if you are a first time landlord your local agent should be an essential part of your granny flat plan.
