Can I Rent Out a Granny Flat to Students or Young Professionals?
In the Australian Capital Territory (ACT), renting a granny flat to students or young professionals can be a lucrative option for homeowners. ACT law allows granny flats to be rented out, but there are some requirements and considerations.
The ACT Government requires that all rental properties, including granny flats, meet minimum standards for health, safety, and welfare. This includes ensuring the property is structurally sound, has adequate ventilation and insulation, and meets fire safety requirements.
Renting a granny flat to students or young professionals can benefit both parties. For homeowners, it can provide an additional source of income and help offset mortgage costs. For tenants, a granny flat can offer affordable accommodation with a lower cost per square meter compared to traditional rental properties.
Before renting out a granny flat, ensure you comply with ACT law and regulations, including obtaining any necessary permits and meeting minimum standards for the property.