The opportunity to start renting out granny flats in Adelaide has become much simpler thanks to recent regulatory changes. Since 2023, property owners can legally rent these units to anyone, not just family members as per previous rules. Here’s what you need to know about renting out your granny flat in Adelaide.
Understanding the rules for renting out granny flats
The changes introduced last year have significantly altered the rental landscape for granny flats in Adelaide. These auxiliary units, once restricted to family use due to local council regulations, can now be rented to anyone. This adjustment aims to increase housing availability and affordability across the region.
Key benefits of renting out your granny flat
Renting out a granny flat not only provides a valuable income stream but also offers affordable living spaces in an increasingly tight market. For homeowners, this can mean turning unused space into a profitable venture while providing much-needed rental options in the community.
Compliance and certificates
Before you can start renting out your granny flat, certain compliance measures must be met:
- Development approvals: Despite the relaxed rental regulations, all granny flats must still obtain the proper development approvals from local authorities.
- Certificate of occupancy: All new buildings or significantly altered properties require a Certificate of Occupancy under the Planning, Development and Infrastructure Act 2016. This certificate ensures that the building is suitable for occupancy and is issued through the PlanSA portal.
- Building Standards: Adherence to updated building standards is crucial, especially in master-planned zones. These standards include specific requirements for flooding overlays, driveway specifications, and living area orientations.
Steps to rent out your granny flat
To successfully start renting out your granny flat, follow these steps:
- Verify legal compliance: Ensure your granny flat meets all local and state regulations, including obtaining a Certificate of Occupancy.
- Prepare the unit: Consider making upgrades or aesthetic improvements to enhance the appeal and functionality of the space.
- Set a competitive rental price: Based on market research and possibly with the assistance of a real estate professional, set a rental price that is attractive yet sustainable.
- Market your property: Use various platforms to advertise your granny flat, highlighting its features and benefits to attract the right tenants.
- Consider professional management: Managing a rental can be complex, particularly with compliance and day-to-day operations. Hiring a professional property manager can simplify this process and ensure adherence to rental laws. The AMKAR Real Estate team is here to help, offering expert property management services to maximise your investment and maintain compliance. Contact us for more details.
Renting out granny flats in Adelaide now offers a fantastic opportunity for property owners to contribute to solving housing shortages while benefiting financially. By understanding and adhering to the new regulations, you can make the most out of your investment. For further guidance and to ensure compliance with all legal requirements, consider consulting with property management professionals or legal experts.
Remember, this article is general in nature and is not financial or legal advice. Please consult your professional financial and legal advisors before making any decisions for yourself.