Dual Key Homes in Newer Estates (Outer Suburbs Melbourne)

Discussion in 'Investment Strategy' started by mnshbnsl, 26th May, 2020.

Join Australia's most dynamic and respected property investment community
  1. mnshbnsl

    mnshbnsl New Member

    Joined:
    25th May, 2020
    Posts:
    3
    Location:
    Melbourne
    Hi All,

    Which states allows dual key homes?
    Does victoria allows dual key?

    I was browsing newer estates in melbourne and came to know about dual key which is a house under one roof but will have 2 portions to rent. I am not sure how the utilities will be shared as the address of the property will still be one address.

    Thoughts please?
     
    mnshbnsl, 26th May, 2020
    #1
  2. Rich2011

    Rich2011 Well-Known Member

    Joined:
    9th Aug, 2015
    Posts:
    1,315
    Location:
    Brisbane
    Queensland has them. Usually the utilities will be metered separately.
     
    Rich2011, 26th May, 2020
    #2
  3. mnshbnsl

    mnshbnsl New Member

    Joined:
    25th May, 2020
    Posts:
    3
    Location:
    Melbourne
    Does that means all the utilities can have sepearte meteres?
    Will it have one address or will it have A or B?
    What about the bond? Will there be 2 bonds for both the tenants or just one?
    And what about the insurance, does insurance companies consider this as 2 properties or just one?

    Sorry just confused...
     
    mnshbnsl, 27th May, 2020
    #3
  4. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

    Joined:
    14th Jun, 2015
    Posts:
    10,654
    Location:
    Gold Coast (Australia Wide)
    Most dual key homes are better described as a duplex pair on one title

    We have financed a few

    ta

    rolf
     
    Rolf Latham, 27th May, 2020
    #4
  5. mnshbnsl

    mnshbnsl New Member

    Joined:
    25th May, 2020
    Posts:
    3
    Location:
    Melbourne
    Has anyone done in victoria?
    Would like to hear more... Thanks
     
    mnshbnsl, 27th May, 2020
    #5