Granny flat agreement

March 1, 2021

If you’re in the process of building a granny flat, you would’ve heard the term “granny flat agreement” been thrown around a few times. This is because it is an important part of the granny flat process.

To solidify the living arrangements of the granny flat, a granny flat agreement or granny flat interest would need to be put in place. It is most commonly settled when elderly parents are given accommodation by their adult child. This is often in exchange for payment or assets, and everyone involved should be notified and should “sign off” on this agreement.

Centrelink would have to be notified about the arrangement as well, as they encourage people to stay out of supported care. This could potentially help your situation further.

To make things a little easier for you, we thought to provide you with a basic sample granny flat agreement. This sample granny flat agreement might give you an idea of the questions to take into consideration when you begin planning your own.

We highly recommend speaking with the professionals before signing any papers. Our team would be more than happy to guide you into the right direction. If you have a more complicated scenario, we’d suggest speaking with a solicitor.

VIEW MORE OF OUR

Recent Blogs

Flood-Proofing Your Granny Flat – What You Need To Know

The idea of building a Granny Flat is exciting and it can be easy to get carried away, however it’s important to carry out the appropriate research before getting started. Be sure to consult both your local council and state government laws, as these will vary depending on your area.

Read More

With Interest Rates Going Up – Is a Granny Flat Your Best Option?

A Granny Flat could help you insulate your lifestyle against cost of living and interest rate rises. Building a Granny Flat on an existing property allows you to make the most of every square foot of your home, you’d be surprised how spacious they can be!

Read More

Gaining Approval for your Granny Flat in NSW

The idea of building a Granny Flat is exciting and it can be easy to get carried away, however it’s important to carry out the appropriate research before getting started. Be sure to consult both your local council and state government laws, as these will vary depending on your area.

Read More

How to make the most out of your Granny Flat

Looking for an investment, flexible accommodation or a future rental property? Granny Flats are a practical and cost-effective investment that can be designed to suit any use, whether you’re wanting a pool house, teenagers retreat or Airbnb.

Read More

Requirements for Secondary Residences in the ACT

Granny Flats are known as ‘secondary residences’ in the ACT and are required to comply with regulations that are slightly different to those in NSW, hence why it is so important to refer to your local and state laws in the planning stages.

Read More

Researching and Planning a Granny Flat? Here’s Why The Greater Sydney Lockdown is The Perfect Time!

At Cubitt’s, we get it – Cubitt’s understand your needs. With maximizing your property’s space whilst keeping family close such a hot topic, we wanted to give you a strong outline of why a Granny Flat is the perfect solution to plan for now. Now that we are in a lockdown, there has never been a better time to plan for your Granny Flat.

Read More