Let me explain how dual occupancy works and the issues to be aware of when considering dual occupancy. A Change in WA law now allows homeowners to build two houses under one roof and rent them out to different parties!
Dual occupancy can be a great option for those who want to make an extra income especially if you are coming up to an early retirement and want extra income or if your super does not allow you to have a pension. You can rent out the other part of your property to someone else. This can also mean you have someone to look after your property and animals if you were to go away. An example of someone who would be great to have as a dual occupant is an international student who you can rent the other space out to on a month-to-month basis!
Dual occupancy can be great for multicultural families who would like to live alongside with their grandparents but not necessarily in the same space, it allows them to check up on their grandparents as they are growing older, the families to spend more time with each other and keeps them close by rather than having two separate properties.
As we know some suburbs are more expensive than others, dual occupancy can help if you would like to live in a certain area but can’t afford to live on your own. Say for example you could share dual occupancy with a sibling, you don’t want to live in the same space this is a great way to pool your resources. It can allow you to live in a more secure area, nicer house and maybe a certain style of house you like.
When moving forward with dual occupancy you must make sure that everyone is protected. Once you have decided to go into dual occupancy, especially with family make sure to sit down with a solicitor to clearly state the percentage of ownership for each party and to create a contingency plan in case any party becomes unhappy with the living arrangement, also to be clear for changes that may occur in the future for example new partners and children.
Finally, you should make sure to have individual entrances for both parties and the living space is clearly defined between all parties and that there are clear boundaries set to ensure a smooth and comfortable living experience for all involved!
With the right person sharing in your dual occupancy, you will gain a lot of benefits!
Carol – Oceania Settlements