A duplex house is a residential property consisting of two separate units in a single building. Duplexes can vary in structure, but the most common orientation is to have two separate units side by side, each with their own entrance. It’s also possible to have a duplex consist of a downstairs unit and an upstairs unit, each with separate entrances.
Because a duplex consists of two separate residential units, it is not considered a single-family home. As a landlord owning a duplex, it’s possible to rent out each side of the building to unrelated tenants with different leasing periods
Duplexes offer a flexible option for property owners, whether they want to rent out both sides of the building or live in one half and rent out the other.
Some upsides of owning a duplex include:
Like any rental property purchase, not everything is gravy with a duplex. A lot about your rental experience can depend on the quality of your tenants, and here are a few downsides to owning and renting out a duplex:
One major draw for tenants to rent a duplex is that it offers many of the best amenities that a typical single-family home has. These include:
The major difference between a duplex and a single-family home is that a duplex is a single building consisting of two separate units. A single-family home is a single building consisting of one unit.
A duplex is built to house two separate tenants, or groups of tenants, and thus it is considered a multifamily home. Multifamily homes are any buildings that are built to house 2 or more unrelated tenants.
An apartment is a single rental unit housed within a larger building consisting of many other separate rental units. Some apartment complexes consist of hundreds or even thousands of rental units. This is different from a duplex, which is a building only built to house two separate rental units.
Condominiums, or condos, are privately owned units inside a building of other units. This is different from a duplex, which is a single building consisting of only two separate units, normally owned by a single owner.
A townhouse is a living unit that shares only one or two walls with other units. Each townhouse has its own entrance and they’re typically multistory. Although a duplex can be multistory, it only consists of two units that sit either side by side or on top of one another and share walls with no other units.
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