A Complete Granny Flat Build

[brazen]

Hi m8,

I doubt very much that bedroom sizes is your problem; they're 3m x 3m each.
The access is separate and private so it should rent out soon enough.

To give you some perspective, Ive just bought my own 3 bedroom house in Panania. I bought it mid-May. It's freshly painted with a lovely kitchen and bathroom. It's a corner block with ample covered parking and it's just lovely really. It's actually absolutely immaculate with a massive back yard. It's been up for rent for 4 weeks now and it isnt rented out yet either. Im NOT worried.

It's the very middle of winter and this is the worst time of year for new rentals. People just hate moving in winter.

I notice you have a tendency to panic Brendan. Don't worry, you will get tenants. It just takes time.

Serge.

 

[baby blue eyes]

Hi Brendan,

I no longer do opens for any new house or gf without it completed, blinds, landscaping etc. I notice your photos don't have blinds and assume you have them in now.

My experience has been until you have the completed package and tenants see what they are getting they will move on.

How long have your window furnishings been in?

I expect too from realestate.com there seems to be a bit of choice for the renters ATM. Good luck, it will be rented, it presents well.

Vicki

 

[Mindmaster]

Hi m8,

I doubt very much that bedroom sizes is your problem; they're 3m x 3m each.
The access is separate and private so it should rent out soon enough.

To give you some perspective, Ive just bought my own 3 bedroom house in Panania. I bought it mid-May. It's freshly painted with a lovely kitchen and bathroom. It's a corner block with ample covered parking and it's just lovely really. It's actually absolutely immaculate with a massive back yard. It's been up for rent for 4 weeks now and it isnt rented out yet either. Im NOT worried.

It's the very middle of winter and this is the worst time of year for new rentals. People just hate moving in winter.

I notice you have a tendency to panic Brendan. Don't worry, you will get tenants. It just takes time.

Serge.

Hi Serge, thanks for your feed back. Just looked up Panania and it looks like a nice part of Sydney. I'd have thought your place would rent quickly, even in the depth of winter. My inexperience is showing.

At the moment I'm relaxed and saving panic attacks for the 2 month mark

Hi Brendan,

I no longer do opens for any new house or gf without it completed, blinds, landscaping etc. I notice your photos don't have blinds and assume you have them in now.

My experience has been until you have the completed package and tenants see what they are getting they will move on.

How long have your window furnishings been in?

I expect too from realestate.com there seems to be a bit of choice for the renters ATM. Good luck, it will be rented, it presents well.

Vicki

Hi Vicki, blinds were installed 2-3 weeks ago so now the GF has immaculate grounds, a top quality finish, private entrance, spacious, efficient and attractive design and professional management.

The only thing missing is a good tenant which will come. Just have to be patient.

 

[brazen]

Hi Serge, thanks for your feed back. Just looked up Panania and it looks like a nice part of Sydney. I'd have thought your place would rent quickly, even in the depth of winter. My inexperience is showing.

I too will start to get concerned at 2 months...at this point something would have to be wrong with either the price or dwelling I suppose?

Cheers,

Serge

 

[neK]

Mindmaster, have you checked with the property manager whether the front tenant it is causing any disturbance?

Based on the crap they caused during building, it wouldn't surprise me if they purposely caused issues (eg played loud music, swear loudly, etc) - general stuff that would put people off renting the granny flat.

I've been told there are laws against this for property sales - not sure if it extends to rentals though.

 

[Mindmaster]

Mindmaster, have you checked with the property manager whether the front tenant it is causing any disturbance?

Based on the crap they caused during building, it wouldn't surprise me if they purposely caused issues (eg played loud music, swear loudly, etc) - general stuff that would put people off renting the granny flat.

I've been told there are laws against this for property sales - not sure if it extends to rentals though.

Hi Nek, despite all the tenant/development issues that came up, the tenants come across as a decent family. Husband has a good job, wife stays at home looking after the kids. No partying, loud music, drinking etc and any potential tentants would access the GF through the private entrance and see bugger all due to the 6 ft fence.

The extended vacancy is just a matter of finding the right rent that fits the market and due to winter as Serge mentioned.

 

[Blurbman]

I think your property manager has given you the reasons it has taken so long to rent (and most likely always will), small bedrooms, and no parking. If the people turning up have said this then it can't be denied.

The bedrooms are 3m x 3m. Subtract the robes and you have a room 2300 x 3000. The door opens inwards so thats another 800mm+ of room you can't put a bed near. This gives you usable space to place a bed of only 2300 x 2200.

A queen size bed, which is pretty much the standard these days is 150cm wide x 2m long. In effect you would have a 40cm between the bed and wall on each side, and the door opening within 30cm of the bed.

Those figures are going to turn pretty much everyone off. It's all about what impression a person draws when they walk in.

If i was you, it may be worthwhile to get furniture in to 'style' it and show people what can actually fit. The benefit is that those photos can be used next time it needs to be rented. Choose smaller furniture for photos such as single or double beds, small couches, foldaway furniture. Essentially just to show people what will work.

There is a big difference between someone saying "I don't think our bed will fit" to "ohh, If we put it like that then there's heaps of room".

Just my two cents worth.

 

[brazen]

Blurbman,

I totally disagree about the bedroom sizes being the issue. I do 150+ jobs a year with two 3mx3m bedrooms (incl robes) and there's never been a problem.

The freestanding house I just bought has (incl robes):
Master bedroom 3.3m x 3m
2nd Bedroom 3m x 2.9m
3rd Bedroom 2.6m x 3.8m

I actually got a tenant today after 5 weeks of waiting. No issue about bedroom sizes. It just takes time to find tenants sometimes...

RE: Parking
Same again, 90% of granny flats dont have on-site parking yet they are still all leased out. You can create a front yard parking spot on Mastermind's property if needed but this is not crucial in my experience.

Look,the property is in Shalvey which is not the best part of Blacktown. The granny flat will be rented, you can rest assured of that.

 

[virgo]

Shalvey GF

Hiya

If the OP can answer this question:

"who is his target tenant?" for his size of granny flat and in this location...i think he will know why it is taking that long and hence finetune his marketing strategy...

all the best...

 

[Edmond Dantes]

How are things going,, Mindmaster?

 

[devank]

small bedrooms, and no parking. If the people turning up have said this then it can't be denied.

A queen size bed, which is pretty much the standard these days is 150cm wide x 2m long. In effect you would have a 40cm between the bed and wall on each side, and the door opening within 30cm of the bed.

It is a 60sqm granny flat.. what else do you expect?
You want to place queen bed at the center and then walk around too? Seriously you are not targetting the right tenants.

I think it should be enough as long as you can put one queen in one room and one single in another + robes. If swing doors and robes on the same side then you won't waste too much space either.

I don't think onsite parking is also essential if the property is located near public transport and also has street parking. People rent these places aren't really going to own brand new BMWs.

 

[brazen]

Its a 45 sq m granny flat Devank.

 

[Mindmaster]

I actually got a tenant today after 5 weeks of waiting. No issue about bedroom sizes. It just takes time to find tenants sometimes...

Looks like we found tenants around the same time and at the 4-5 week mark. Had a couple of tenants apply last week. One looked ok and one looked very good. The very good one is a single mother with a young child who would be an excellent match for the GF. She has paid the holding deposit and signs the lease Wednesday.

Hiya

If the OP can answer this question:

"who is his target tenant?" for his size of granny flat and in this location...i think he will know why it is taking that long and hence finetune his marketing strategy...

all the best...

Pretty much the same market as most GF's. Single retirees, divorces, single parents, couples on a budget etc etc. The market is not partying singles, familes, people who need a lot of room.....

Almost Finished
Once the lease is signed, a formal valuation will be completed, a summary of all numbers will be posted here and this thread can be put to rest.

Loose Ends
-Need to get a letter box. The PM has found a handyman who get getting a numbered Bunnings letter box set up for $130 plus GST.

-Will call the council tomorrow to arrange bins

Clothesline???
The PM asked me if there was a clothesline installed which left me scratching my head. There is no clothesline and this is the first time I even though of one.

What normally happens with clothes lines and GF's? There is not normally much space for them.

 

[baby blue eyes]

Hi Brendon,

Re the clothes line I got one from bunnings the kind that folds down. I think it is called folding frame. Get the letterbox guy to install it too. I bought posts that cement into the ground and the folding frame slots into it. Remember to put it where it will see some sun.

Great news re the tenant hope you have a long term tenant.

Cheers
Vicki

 

[brazen]

Looks like we found tenants around the same time and at the 4-5 week mark.

There ya go. Good news Bo

 

[Tonibell]

Once the lease is signed, a formal valuation will be completed, a summary of all numbers will be posted here and this thread can be put to rest.

Hi MM,

Well done on getting things this far and thanks for sharing it - looks like it will be worth it.

Just wondering about the timing of the valuation - are you expecting that the signed lease will increase the figure or are you just waiting for other reasons.

Also, what % of your spend on the GF are expecting to see in the valuation ?

 

[Mindmaster]

Hi MM,

Well done on getting things this far and thanks for sharing it - looks like it will be worth it.

Just wondering about the timing of the valuation - are you expecting that the signed lease will increase the figure or are you just waiting for other reasons.

Also, what % of your spend on the GF are expecting to see in the valuation ?

Getting good valuations for house/GF combos is not easy and i'm expecting to get 80% of the cost of the GF in the value and would not be surprised if I only got 70%.

My broker suggested I wait until the GF is tenanted so a higher rental figure can be used in the valuation that may help.

I asked my PM to give me a guesstimate on what they could sell the property for and she was not game to give one. The reason being that there is just too little sales figures to give an accurate estimate.

 

[Mindmaster]

Hi Brendon,

Re the clothes line I got one from bunnings the kind that folds down. I think it is called folding frame. Get the letterbox guy to install it too. I bought posts that cement into the ground and the folding frame slots into it. Remember to put it where it will see some sun.

Great news re the tenant hope you have a long term tenant.

Cheers
Vicki

Hi Vicki,

Thanks for the great suggestion. The PM asked the handyman for a quote for buying and installing the line. The quote is $350 plus GST.

Does that sound good to you?

Not sure if I should go for it.

What do people with GF's normally do for clothlines for their tenants?

 

[brazen]

Hi Vicki,

Thanks for the great suggestion. The PM asked the handyman for a quote for buying and installing the line. The quote is $350 plus GST.

Does that sound good to you?

Not sure if I should go for it.

What do people with GF's normally do for clothlines for their tenants?

We charge $220 (installed into a concrete footing) for a rotary clothesline like this one: http://www.bunnings.com.au/products_product_sun-king-40-rotary-clothesline_P4510318.aspx?page=2

You dont need a huge one for your property.

Brazen

 

[baby blue eyes]

Brendon,

Go with serge's will do the trick and its cheaper than your quote. My son installed mine and the letterbox. I was conscious that the line should not take up too much space

Vicki