With the new allowances around granny flats enticing investors to, one council is opening up opportunities even further, which may have the potential to boost your yield.
In the Town of Cambridge, a recent Housing Options Brochure is providing information to residents about how to design their home so that it can be separated into two dwellings, with the potential of renting them out at a later stage.
“Don’t be afraid to build two homes in one house,” the new plans explain. “You can move into one self-contained part of the house and rent out the other part, or have a family member move into the other part.
“When you sell your house, the new owners can easily convert it back to a larger single residence – if they want – or they can rent or share the part they don’t want to occupy.”
Housing Minister Bill Marmion noted that "It's a concept that people should consider seriously when designing a home.”
Under the current rules, there are eight different types of housing that will be allowed, including granny flats. Both of these options could provide the opportunity for multiple rental incomes from the one property.