A dual key property is essentially two homes in one. In general, a dual key property is not designed or approved to be strata-titled like a duplex, which means that both dwellings are on a single title with one set of rates. Each self-contained residence is generally designed under the same roof so from the street the property resembles a traditional house.
The two dwellings in a Dual Key Property can either be attached or detached, separated by an approved fire wall system or physically separated. Each home has a separate entrance with full facilities including a kitchen, bathroom, laundry, bedrooms, living areas and car accommodation.
This type of property continues to be the product of choice for many investors as an approved Dual Key Property provides investors with two rental incomes from the one property.
A DUAL KEY PROPERTY IS A SMART INVESTMENT CHOICE
• Having two sets of income produces a higher yield which generally makes this type of property cash flow positive
• Reduced risk of the property being vacant with no income being produced as normally one side will be tenanted if/when the other becomes vacant.
• No body corporate fees or strata fees as the dwelling remains on the one title.
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