Duplex - Rent out each individual unit or whole STR?
All,
I'm in the process of buying a townhouse with Ocean Views in Hampton, Virginia. It is fully furnished and I can tell it had previously been set up to rent as 2 units. The property is set up where the basement has a full bath, full bedroom and a sofa bed along with a kitchinette that has a stove, mini fridge and microwave. It also has a separate entrance and a washer/dryer. There is a door leading to upstairs that I'm sure I can permanently lock.
The upstairs 2 floors have the kitchen, 2 bedrooms, 1.5 baths, the balcony with views, the living room with 2 futons and everything else you'd need. It just doesn't have a washer/dryer. The property is within steps to the beach. Parking I have 2 definite, maybe 3 spots total depending on the fit.
I definitely plan to short term rental this. Technically there's a 1 week minimum rental with the HOA but i'm going to test those limits as i've heard they haven't enforced it in the past. Would renting it as 2 separate units generate more income for STRs than as one large unit at a beach destination? Should I offer the ability to rent 2 separate units or the whole thing if available?