What do you need to know about duplex rentals?

There are some tenants who want more activity on the premises, and would rather live in the middle of many other tenants. A duplex rental is not for you if that’s your preference, and you need to know that before moving in. You can find a duplex rental in just about any community. Search local newspaper ads for available apartments to rent.

What are the responsibilities of an owner of a duplex?

First, be prepared to repair problems in the other duplex. As the owner, you are responsible to your tenant to repair or replace faulty equipment, plumbing, etc. This can involve quite a bit of time (depending on the situation) and money.

Can you live in a duplex with your neighbor?

You may decide that the only type of rental unit you want is a duplex, after you understand some of implications of living in one. You’re going to be share a yard with your neighbor in a duplex rental situation. This may or may not be good news.

Is it possible to get maintenance on a duplex?

Since duplexes are usually owned and managed by separate landlords, you won’t be able to count on a maintenance team being available 24/7 for repairs. You’ll have to contact the landlord and wait until he calls a specialist to fix whatever requires a fix.

First, be prepared to repair problems in the other duplex. As the owner, you are responsible to your tenant to repair or replace faulty equipment, plumbing, etc. This can involve quite a bit of time (depending on the situation) and money.

What are the rules for renting a duplex?

In addition, include rules about noise, resident-to-resident conflict resolution (if you are renting a duplex or larger property), tenant responsibilities, landlord responsibilities, guidelines on additional occupants, guests, pets, smoking, property maintenance and normal wear and tear. This is incredibly important.

Do you need a cleaning service for a duplex?

You’ll need to find a cleaning service that will do a good job to make the duplex ready for another tenant when the first one moves out. This is not always necessary, but you’ll want to make sure the carpets are cleaned and that the kitchen/bathrooms are spotless for another tenant.

What are the different types of problem tenants?

Six Types of Problem Tenants – and How to Deal With Them. 1 1. Late or partial-paying payers. We’ll start with the most common problem – late or partial rent payments. If you’re wise you make it very clear at 2 2. Wrecking balls. 3 3. Hosts to all. 4 4. Whiners. 5 5. Indulgent pet owners. More items

Why are duplexes better than single family homes?

A duplex rental is a more cozy environment than other renal units, except for a single family home dwelling. There’s more privacy because there are less tenants traveling back and forth from the premises. If you enjoy your privacy, then it’s a good fit for you.

Can a tenant live in one half of a duplex?

Tenants only have to share a wall, floor or ceiling with one other tenant, reducing noise and other possible disturbances. If you’re living in one half of your duplex, tenants often prefer having their landlord nearby, in case of emergency repairs or urgent issues.

When is a duplex not right for You?

If you’re easily annoyed by noise or have a tenant who constantly knocks on your door with complaints, a duplex may not be for you. However, as a landlord, you get to choose your tenants. So if you find great tenants, these issues are easily avoidable.

How much does it cost to rent out a duplex?

Living in one side of the duplex and renting out the other can potentially cover or lower your mortgage each month. For example, let’s say the mortgage on your duplex is $1,500 a month. And you rent out the other half for $1,000 per month. Then you’d only be paying $500 a month while your tenant pays the rest.

Who are some people who live in a duplex?

Eric Bowlin from Ideal REI is the perfect example of someone who used a duplex to get started in real estate investing when he may not have been able to otherwise. Bowlin says that when he was working on his Ph.D. in New England, they purchased a multi-unit property to live in with the goal of getting their living expenses covered.