Are caravans the new granny flats?
There’s been a bit of press lately about granny flats, and the potential rental income they can provide.
The good news about caravans however is that they are more often than not, cheaper to buy, and easier to sell if you decide you want to get rid of it.
If you have the room, or a big enough garage or carport, then renting out a caravan could be a good extra source of income, without forking out a lot of cash. With housing affordability at an all-time high, offering cheap accommodation could be a great initiative to help people save up for the deposit and get their finances on track.
We do however suggest to check with your local council. Most councils require adequate removal of waste, so if there is access to a proper bathroom then you could be well on your way.
Jim from Arcadia recently posted a share accommodation ad on flatmate.com renting out his caravan in his shed. Offering access to a proper bathroom, and use of the garden and bbq, looks like a great deal, especially @ $75/week. Admittedly, it is a bit out of town, so would probably suit someone who works in the area, but we reckon for $75/week, a great opportunity for a young couple of person to save some money.
We caught up with Jim and Maggie to find out what prompted them to rent out their van.
“It just popped into our head, Maggie and I were cleaning the van out and Maggie suggested we could get someone to live in it. I thought that was a great idea and we posted the ad. We really thought of how it could help low income earners, or people just needing a bit of a kick start with their savings.”
Jim and Maggie hope to get someone in deserving who is really determined to save some cash and get a place of their own.
“Renting is tough”, Jim reflecting on the many years he rented, especially as a child. “We were always on the move, at one stage 5 houses in 8 years. Going through school it can be tough.”
Jim and Maggie hope to stay in touch to let us know how it’s all going. “We’ll send in our updates!”
So there you have it. Get a caravan and make some extra dough! Good luck out there, and stay safe.