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Dual occupancy is not a special rental property. It can be a typical house, detached or semi-detached, it can be an apartment or a condo, a duplex or a townhouse. All an investor does is splits up the apartment or house into two sections so two people or two families can stay at the same address. How many people can be accommodated will obviously depend on the size of the property, the number of bedrooms one can create and the common or dedicated facilities like kitchen, dining area and utility areas. It is acceptable to have a common utility area but it is imperative to have separate bathrooms, living areas and even kitchens.
Properties catering to families or couples will require completely separate living areas and even utility areas. The essence of the whole dual occupancy concept is to make more money by having more than one rental income. Simply put, dual occupancy is double the rent. In some cases, the rent from both tenants may not be exact mathematical double of the rent but it means that you are obtaining rent from two or more tenants.
Dual occupancy would not only be a way to make more money as an investor, it would also make sense because if one tenant leaves, you still have another tenant that is paying rent. So you are decreasing your potential losses by having all of your tenants move out.
Dual occupancy can also be opted for by property owners who would be living at the same address. Carving out another unit will allow the property owner to subsidise the mortgage since the rent can be used to pay a portion of the mortgage repayments.
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