I have been searching for duplexes on the mls and a bunch of listings came up. Many of them have descriptions as half-duplex and single family but advertises that it can rent the basement for this much and the main floor for this much. Are you allowed to rent out HALF duplex with Real Estate Type : Single Family in the listing to 2 families?
What is a Half-Duplex
- Thread starter nepoez
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QUOTE (nepoez @ May 5 2008, 01:21 AM) I have been searching for duplexes on the mls and a bunch of listings came up. Many of them have descriptions as half-duplex and single family but advertises that it can rent the basement for this much and the main floor for this much. Are you allowed to rent out HALF duplex with Real Estate Type : Single Family in the listing to 2 families?
What is a half duplex you ask? It is one half of a full property. It is like having two single family homes joined by a common wall and roof. They fall into the "attached dwelling" category and should not be considered single family dwelling. Each residence is self contained and may have a basement suite, thus the up/down rental information. The basement suite may be legal or illegal depending on how it was done and what the city zoning is for the area.
Personally I do not like to buy duplexes unless I can get the whole thing (both sides), my reason is that you cannot control what the neighbor(who you share a roof/common wall/general property/yard etc.) will do with their half. Maybe they are the best people in the world or maybe not. Either way you are stuck with them and vice versa. I find it better to own the whole thing and that way you can control the property and protect your investment dollars.
My 2cents.
What is a half duplex you ask? It is one half of a full property. It is like having two single family homes joined by a common wall and roof. They fall into the "attached dwelling" category and should not be considered single family dwelling. Each residence is self contained and may have a basement suite, thus the up/down rental information. The basement suite may be legal or illegal depending on how it was done and what the city zoning is for the area.
Personally I do not like to buy duplexes unless I can get the whole thing (both sides), my reason is that you cannot control what the neighbor(who you share a roof/common wall/general property/yard etc.) will do with their half. Maybe they are the best people in the world or maybe not. Either way you are stuck with them and vice versa. I find it better to own the whole thing and that way you can control the property and protect your investment dollars.
My 2cents.
Thanks! That makes sense now.
QUOTE (ApexQI @ May 7 2008, 10:12 AM) What is a half duplex you ask? It is one half of a full property. It is like having two single family homes joined by a common wall and roof. They fall into the "attached dwelling" category and should not be considered single family dwelling. Each residence is self contained and may have a basement suite, thus the up/down rental information. The basement suite may be legal or illegal depending on how it was done and what the city zoning is for the area.
Personally I do not like to buy duplexes unless I can get the whole thing (both sides), my reason is that you cannot control what the neighbor(who you share a roof/common wall/general property/yard etc.) will do with their half. Maybe they are the best people in the world or maybe not. Either way you are stuck with them and vice versa. I find it better to own the whole thing and that way you can control the property and protect your investment dollars.
My 2cents.
QUOTE (ApexQI @ May 7 2008, 10:12 AM) What is a half duplex you ask? It is one half of a full property. It is like having two single family homes joined by a common wall and roof. They fall into the "attached dwelling" category and should not be considered single family dwelling. Each residence is self contained and may have a basement suite, thus the up/down rental information. The basement suite may be legal or illegal depending on how it was done and what the city zoning is for the area.
Personally I do not like to buy duplexes unless I can get the whole thing (both sides), my reason is that you cannot control what the neighbor(who you share a roof/common wall/general property/yard etc.) will do with their half. Maybe they are the best people in the world or maybe not. Either way you are stuck with them and vice versa. I find it better to own the whole thing and that way you can control the property and protect your investment dollars.
My 2cents.
QUOTE (ApexQI @ May 7 2008, 11:12 AM) Personally I do not like to buy duplexes unless I can get the whole thing (both sides), my reason is that you cannot control what the neighbor(who you share a roof/common wall/general property/yard etc.) will do with their half. Maybe they are the best people in the world or maybe not.
The one downside to that is they will also compare rents and if you give one tenant an incentive, the other will find out!
The one downside to that is they will also compare rents and if you give one tenant an incentive, the other will find out!
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I personally like duplexes as you do not have to pay any condo fees that can eat up cashflow, and they are typically more desirable (ie. higher rents) than a condo.
As mentioned, best if you can by both sides as then you control the whole asset, but better than buying 1 of 24 suites in a condo-converted building in my opinion.
That being said there are many factors involved that can be a pro/con either way.
As mentioned, best if you can by both sides as then you control the whole asset, but better than buying 1 of 24 suites in a condo-converted building in my opinion.
That being said there are many factors involved that can be a pro/con either way.
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QUOTE (C2Ventures @ May 7 2008, 08:11 PM) As mentioned, best if you can by both sides as then you control the whole asset, but better than buying 1 of 24 suites in a condo-converted building in my opinion.
Amen!
Amen!
In Ontario, they are called "semi-detached" and in Alberta, they are called half-duplexes. In Ontario, we generally refer to duplexes as a single dwelling with two self-contained units (i.e. house with basement suite that has a separate entrance). In Alberta, they call these up/down duplexes.
Be sure to make note of the legalities in your province surrounding owning both sides of a detached home (i.e. two "semi-detached" homes that are connected via a wall that separates them). As far as I know, in Ontario, if you own both sides, the titles will be combined to one title and you will own the whole property as one.
Be sure to make note of the legalities in your province surrounding owning both sides of a detached home (i.e. two "semi-detached" homes that are connected via a wall that separates them). As far as I know, in Ontario, if you own both sides, the titles will be combined to one title and you will own the whole property as one.