Forums / Property Investing / Creative Investing / Granny Flat Gold Coast

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  • Profile photo of Jimmy86Jimmy86
    Participant
    @jimmy86
    Join Date: 2013
    Post Count: 46

    Hey all,

    Im looking to build an attached second dwelling/granny flat (2xbed 1xbath) on my 3xbed 1xbath house in Southport. Im thinking of making a side entrance to the granny flat as the main entry to it, but also adding a 2 way lockable door from the main house to the GF also, so i could be converted into a 5 bedroom 2 bathroom house if we desired.
    Because the house is on stumps, I have been quoted around the $60k mark for the build, because they can easily plumb/wire the house into the main house.

    The goal: to create $220+ rental income from the GF. + increase the overall property.

    My question is:

    – Has anyone gone through the granny flat process recently on the Gold Coast that could share their experience and pearls of wisdom?
    Particularly an attached granny flat, and did you perform the job as a house extension or go through actual granny flat approval? and do you rent it out privately as ‘tenants in common’ and cash in hand or using an agent as an actual separate dwelling.

    cheers,

    Jimmy.

    Jimmy86 | Future Assist SMSF Specialists - Bris | Melb | Syd
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    Profile photo of BrazenBrazen
    Participant
    @brazen
    Join Date: 2010
    Post Count: 47

    Hi Jimmy,

    I too have a property on the Gold Coast (Isle of Capri) and am looking at an attached ‘granny flat’ on the upper level.

    Gold Coast Council do allow a secondary dwelling to be created and they call it an ‘MCU’ which means a’Material Change of Use’ application under their development policy. Their policies are actually quite supportive of these types of extensions and conversions BUT they make it very clear that you cannot separately rent-out a granny flat in the Gold Coast Municipality.

    See their ‘fast-track’ page for attached family accommodation here: http://www.goldcoast.qld.gov.au/planning-and-building/fast-tracking-family-accommodation-10208.html

    This may change in the future, particularity as neighboring Councils in Ipswich and recently, Logan have allowed granny fats to be rented out to randoms.

    Gold Coast Council have a fast-track system which many Sydney Council’s would be wise to duplicate but that’s another story haha!

    Serge.

    • This reply was modified 5 years ago by Profile photo of Brazen Brazen.

    Brazen | Granny Flat Approvals Sydney
    http://www.grannyflatapprovals.com.au
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    Granny Flat Approvals Guru

    Profile photo of Jimmy86Jimmy86
    Participant
    @jimmy86
    Join Date: 2013
    Post Count: 46

    Thanks so much Serge!

    How have you gone with your granny flat so far…?

    have you gone through the application process?

    Cheers,

    Jimmy86 | Future Assist SMSF Specialists - Bris | Melb | Syd
    http://www.futureassist.com.au/setupansmsf
    Phone Me

    Self-managed super specialist administrators and advisers

    Profile photo of CatalystCatalyst
    Participant
    @catalyst
    Join Date: 2008
    Post Count: 1,404

    Hi Serge!
    Do you know if the same applies to the Sunshine Coast?

    And is the process easier or more difficult than NSW? (in regards to splitting a house or building a granny flat)

    Thanks.

    Profile photo of BrazenBrazen
    Participant
    @brazen
    Join Date: 2010
    Post Count: 47

    Hi Catalyst,

    No, not yet. We’ve got good tenants in there now on a 12 month lease so will look at it in a year. From what I’m reading, yea it seems GC Council have a better/faster/easier system under the MCU (‘Material Change of Use’) provisions. On another point the Council rates are not so pretty :)

    Brazen | Granny Flat Approvals Sydney
    http://www.grannyflatapprovals.com.au
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    Granny Flat Approvals Guru

    Profile photo of rudra_rrudra_r
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    @rudra_r
    Join Date: 2009
    Post Count: 61

    Hi Serge,

    Just to clarify under the present planning scheme for Logan City Council I don’t believe you can rent out a granny flat separately. The council currently says the main house and granny flat must form 1 household. This is expected to change with the new planning scheme where they will be introducing dual occupancy (dual key). However it is now with state government so there could be a change, I’m currently waiting to see what happens.

    Cheers
    Rudra

    Profile photo of BuyersAgentBuyersAgent
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    @knightm
    Join Date: 2005
    Post Count: 313

    Hi Catalyst,

    On another point the Council rates are not so pretty :)

    Highway robbery!

    BuyersAgent | Precium
    http://www.precium.com.au
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    South Coast NSW Independent Buyers Agent - Wollongong to Batemans Bay and Regional NSW

    Profile photo of RussianAussie (QLD)RussianAussie (QLD)
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    @russianaussie
    Join Date: 2015
    Post Count: 20

    Dear investors,

    Could you tell me if it is possible to rent out a main property and live in a granny flat myself?

    I’m going to buy my first investment property in 2016 and it would be a nice opportunity to save more money for the 2nd one.

    Best regards
    Alexander

    RussianAussie (QLD)
    https://www.facebook.com/sanderinoz

    Feel free to write me a message or add me in Facebook to chat about property investing

    Profile photo of CatalystCatalyst
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    @catalyst
    Join Date: 2008
    Post Count: 1,404

    pree-vyet
    If it is legal to rent out the granny flat you could rent out the main house instead. I have a friend who rents out his granny flat. He intends to move into it later in life and rent out the house.
    Great idea which will bring a good income.

    • This reply was modified 4 years, 4 months ago by Profile photo of Catalyst Catalyst.
    Profile photo of steve572steve572
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    @steve572
    Join Date: 2005
    Post Count: 7

    Definitely buy a house with a granny flat if you can. We did that 20 years ago and it enabled us to really fast-track our mortgage repayments over 5 years. To give you an idea, we bought the property for 200k, kept it for 5 years as owner occupiers. In that time the granny flat was rented for $150 per week and was never vacant. The property also went up in value and we sold it for 375k. The income from the flat over the 5 years totalled $39,000 which was a 20% return on our outlay. Remember too that interest rates at that time were never lower than 8%……We were then able to save the deposit for a second property very quickly which was the beginning of accumulating a much bigger portfolio.

    Profile photo of RussianAussie (QLD)RussianAussie (QLD)
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    @russianaussie
    Join Date: 2015
    Post Count: 20

    pree-vyet
    If it is legal to rent out the granny flat you could rent out the main house instead. I have a friend who rents out his granny flat. He intends to move into it later in life and rent out the house.
    Great idea which will bring a good income.

    It’s illegal actually :(
    Gold Coast Council says very clear that you cannot separately rent-out a granny flat in the Gold Coast Municipality.
    Can I rent out main dwelling instead of granny flat? And live in granny flat myself?

    Best regards
    Sander

    RussianAussie (QLD)
    https://www.facebook.com/sanderinoz

    Feel free to write me a message or add me in Facebook to chat about property investing

    Profile photo of CatalystCatalyst
    Participant
    @catalyst
    Join Date: 2008
    Post Count: 1,404

    <div class=”d4p-bbt-quote-title”>Catalyst wrote:</div>
    pree-vyet
    If it is legal to rent out the granny flat you could rent out the main house instead. I have a friend who rents out his granny flat. He intends to move into it later in life and rent out the house.
    Great idea which will bring a good income.

    It’s illegal actually :(
    Gold Coast Council says very clear that you cannot separately rent-out a granny flat in the Gold Coast Municipality.
    Can I rent out main dwelling instead of granny flat? And live in granny flat myself?

    Best regards
    Sander

    As I said IF IT IS LEGAL. You piggy backed this thread and did not say where YOUR granny flat was located. Hence my statement about IF IT WAS LEGAL to rent the granny flat. If it is not legal then that is your answer. If you read the legislation it will state the rules. Probably along the lines of not renting to an unrelated party. So the same would be true whether renting the house OR the granny flat.

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