DUAL OCCUPANCY PROPERTIES
Dual Income in One Property
What are dual income properties? Duplexes, Dual Key and Dual Occupancy homes are examples of dual income properties.
Both Dual Occupancy properties and Dual Key are popular property types because of the higher ceiling in providing income to homeowners. Basically, they are good options for generating dual income from a single property. In most cases, these property types have 3 bedrooms, 2 bathrooms, and a double garage which are separated by a sturdy, fireproof, and soundproof divider. The best thing about dual income properties is that you can either rent out both sides of the house or choose to live on one side.
Dual Key homes are properties with two separate houses within a single dwelling. In most cases, the two separate residences are accessed through a single entrance with individual lockable doors for the two tenants. Both of the residences can be rented out to two separate occupants or you can stay in one of the dwellings depending on Local Authority bi-laws in your area.
Dual Occupancy homes are two separate residences under one title. Typically, the two separate dwellings are attached by a common wall for privacy. They also have separate entrances and garages for the two separate tenants. You have the option to lease both residences or choose to stay on one of the dwellings depending on Local Authority bi-laws in your area.
Duplex Properties are like Dual Occupancy Homes as they are two separate residences attached by a common wall or detached. Additionally, they have separate entrances and garages for privacy purposes. However, Duplex Properties are individually strata-titled which means that they can be sold individually as they are not bound in a single title.
Dual Occupancy and Dual Key properties are considered as the newer concepts in property investing. Both property types provide maximum yield and profit potential compared to the traditional houses.
The development of Dual Occupancy, Dual Key, and Duplex properties requires a complex process that should be accomplished properly for best results. Here at Capital Wealth Property, we make sure that we provide the best results on every process to create wealth for your future, today!