If your home has a granny flat or a garden cottage, you have the potential to generate a great source of extra income. This is how you can turn it into a money making business.
Make it look good
When it comes to rental properties, looks are everything, therefore you need to ensure your garden cottage looks great for it to attract people looking for rentals. When it comes to general décor, furnishings don’t really benefit long-term rentals but are important if you want to attract the short-term market. You can get things like modern vinyl floors and granite kitchen tops which are not only hard-wearing but also attractive and require very low maintenance.
Create a good layout
Property experts say a great layout can increase the amount tenants are willing to pay for your garden cottage. Even if there is not much space, the flat should be comfortable and essentials include a kitchen space, enough space for a TV room, and convenient space for a bedroom and bathroom. More people also prefer showers than baths, and they take up less bathroom space while saving water at the same time.
Look for a great rental agent
A rental agent with great skills can make all the difference when letting out your granny flat. Don’t make finding a rental agent the last thing on your to-do list when preparing your flat, but secure a good rental agent as early as possible. Getting a rental agent will save you a lot of time and effort as they will know the market segment and neighbourhood.
An attractive separate entrance flatlet doesn’t only have the potential to bring you a great source of income, but can also be a great work-from-home office space, and will add real value when you finally have to sell your home.
