I had the house revalued by a bank valuer who suggested we rent it out.  Here’s 5 Tips for Granny Flat Rental Profits1. Get it valued by the bank before you rent it out as it will be in peak condition2. Get a local real estate rental agent to give you a rental valuation to back up your claim to the bank valuers that it’s worth premium dollars3. Make sure you use a proper lease or rent document if you’re managing the rental without an agent. It will protect you and the tenant in the event of a dispute.Have the Granny Flat in top shape before you rent it to make sure you get it back the same way5. Use a local trusted real estate agent or rental management agent or company. They know what they’re doing. They deal with problem tenants and rental property maintenance every day and it’s a small price to pay (usually 5-9%) for your peace of mind regarding one of the biggest assets you’ll ever own.These quick tips will see you well served in your Granny Flat rental project. fWithin 1 year I’e been able to refinance for a cheap Granny Flat which I’ll also be renting out with a view to building a portfolio.