What is a dual key or dual occupancy home?
A dual key property is essentially one property that looks like a standard home from the outside but is designed and divided into two separate dwellings. The best analysis is to view a dual key home as a combination between a duplex and granny flat. This is often 3-4 bedrooms and 2 bathrooms on one side, and 1-2 bedroom and a single bathroom on the other.
Similar to a co-living home, dual key or dual occupancy homes provide the investor and opportunity to yield a higher income as both dwellings can be leased separately. For the savvy occupier, these properties also provide the option to generate an income stream by living in one dwelling and leasing the other.
If being a landlord and seeking the benefit of a higher yield or having parents or family live with you in the future, a dual key property provides a suitable property solution. It is however important to consider all factors such as rental demand, proximity to facilities and key infrastructure and re-sale potential.