What is the difference between Dual Occupancy and Dual Key?
Dual key means you have an internal door from one unit to the other unit like a hotel room where two rooms have a internal door giving access from one to the other.
A Dual Occupancy means each unit has its own access with no internal access between the units, having said this many buyers with an extended family will have an internal door which can be removed later.
A Dual Occupancy property is similar to a Duplex in that each unit can be tenanted individually or you can reside in one and tenant in the other. Unlike the duplex a dual occupancy property cannot be strata titled and always on a single title. Not all councils permit Dual Occupancy properties and have differing regulations regarding design and location. Some councils will allow only for 3 or 4 bedrooms in one unit and 1 bedroom in the other, others allow 3 bedrooms in one unit and 2 bedrooms in the other.
Dual Occupancy properties are similar to house and land packages in that they are full turnkey and fixed price, construction time is usually 12-16 weeks. Some Dual Occupancy properties are in developments with private roads therefore a small Body Corporate fee is payable.
Just some of the benefits:
- Dual occupancy properties are generally $150,000 to $250,000 cheaper than a duplex giving much better rental yields than duplexes or house and land packages.
- Reduced outgoings
- Lower risk. With two potential incomes, if one dwelling is vacant the other property is still working for you, it is unlikely you will be without both tenants at the same time.
Property Brokers (Aust) have a wide selection of Dual Occupancy properties contact us today to learn how a Dual Occupancy Investment can work for you 1300 836 838