All Topics / Help Needed! / renting out PPOR

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  • Profile photo of MillyMilly
    Member
    @milly
    Join Date: 2004
    Post Count: 288

    Hi you all,

    Just after some advice. I live in Brisbane and am thinking of buying in a country town about 2 hrs from the city.

    My idea is to rent my house out and spend a year in the country renovating and then selling after a year with teh idea of making a profit.

    My brisbane home is big in a high demand area for rentals. It has a granny flat downstairs that I rent out for $130/wk.

    Now my question is Can I continue to rent out the granny flat and then rent out the rest of the house for say $350/wk? I suspect council would frown on that cos I’m not zoned for flats.

    Frankly I think if the house and granny flat was rented out together I wouldn’t command much more rent than the $350/wk. and the tennants would probably sublet the granny flat anyway.

    Also do you think there is much difference in rent if the house is furnished or unfurnished?

    thanks for your comments
    milly

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213

    It may be better to just rent out the whole thing, and let the tenants do any subleaseing of the granny flat. You renting out hte flat when it is not approved may result in you not being covered by your various insurances, and this could cause problems.

    Terryw
    Discover Home Loans
    North Sydney
    [email protected]

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

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