Back then, a granny flat was just an additional structure in your property for the elderly members of the family. However, you can utilise it for other profitable purposes with the right kind of paperwork. If you plan to own one to have additional earnings, you can make money from these creative ideas.
One of the more popular choices is to rent out your granny flat to long-term renters. It is perfect for those who live on their own, cannot afford to buy a house, or are not content living in a room within another residence. Even if the furniture and appliances are smaller than what you want, at least whoever will live there will not have to share them with a whole family.
You may be the kind of person who prefers not to have unfamiliar individuals staying with you for too long, and that is fine. If that is the case, you can choose to rent out your granny flat to travellers instead of those who want a semi-permanent residence. Considering that you can choose from one of the stylish designer kitset homes in New Zealand for your additional structure, you can definitely promise a personal hotel-like stay for your short-term renters.
If you are not into renting or leasing, then convert your granny flat into your own personal commercial space. Put up your own business within your property to give a whole new meaning to the phrase “cottage industry.” Just make sure to check with your municipal offices if you can actually create an office with your current setup. You may have to make a few changes or add furnishings to make your granny flat business-ready.
Other than using your granny flat as a separate guest room, you can profit from renting it out with a bit of investment and imagination. Do not worry about the cost since you eventually will earn enough to profit from it. Just concentrate on earning from it until you have an actual granny available to live in it.