How To Price My Granny Flat Rental

Posted on February 7th, 2025

Granny flat prices have a huge range dependent on quality, size and location. It may be hard to know where your granny flat fits on the wide scale, so here’s the advise we’ve prepared based on experience as real estate agents, tenants and landlords at GrannyFlat Rental.

Research the market and price your flat competitively with similar listings

Consider location, number of bedrooms and bathrooms, outdoor areas and year built or renovated. The marketplace is constantly changing, so keep your eyes peeled for what is getting leased quickly and what stays available for longer periods of time. A granny flat will most-likely be in between the price of an apartment and a house of the same size and quality.

 Apartment < Granny flat < House

When setting the price for your granny flat, ask yourself how quickly you want the property leased, and if the ideal tenant or the ideal price is more important to you.

Things that could increase the price of a granny flat rental:

• Furnished listings
• Proximity to beach and public transport
• Being pet-friendly
• Having a fenced outdoor area
• Allowing use of a pool
• Internal laundry
• Secure parking
• Ample storage
• A second bathroom
• Recent renovations
• Ocean, lake, city or bush views
• Included utilities (water, electricity, internet, gas, lawn and/or garden maintenance)
• Hiring a real estate agent to manage the property
• More quality features that an increase a granny flat's value

Things that could decrease the price of a granny flat rental:

• Proximity to noisy areas like main roads and airports
• Common areas like a shared garden or laundry
• Shared walls joining the granny flat with the main house
• Limited sources of natural light
• Unclear property photos
• Forgetting to advertise any of the positive features that could increase the property value

At the end of the day, charge what it’s worth to you. A granny flat is a safe investment and source of income, so consider reducing your rental asking if you find the right tenant for you. It’s better to have a stable tenancy and recurring rental payments than losing weeks of rent looking for the next best tenant.

Helpful Resources:

How to Add Luxury to Your Granny Flat to Justify High Rent Rates

How to Choose a Good Tenant for Your Granny Flat: A Landlords Guide

What is Agritourism and who can make the most of it with Granny flats and Tiny Houses

The key steps to effectively rent out your granny flat in NSW

How to take property photos to rent out your granny flat & find a tenant

Author and posted by Alysha de Ruyter.