Has anyone ever kept one half of a duplex for VRBO/personal vacation use and rented the other to a full time tenant? I can think of several issues, but wanted the community thoughts as well.
No personal experience but my personal plan is for a 3/4-plex with one unit being personal and the rest vrbo/airbnb units, in the future.
The issues would likely be mostly around noise / people coming in and out, and your long term tenants comfort with that.
I am assuming you are using the long term rental for risk reduction and more stable income. But if you have decent luck with vrbo you may want to use both units for it in the future, since you can get more economies of scale potentially - cleaning, maintenance, all in the same location anyway
Let us know how it goes!
I bought a 1/2 of a duplex 19 years ago and just purchased the other half in March. Until This March, I lived in it and then did long term rentals until about two years ago and started using VRBO short term (I am very close to the Beach). Once I bought the other side (which has a pool, i did not) , I tore down the middle dividing fence, opened up the back yard and now rent the entire duplex (now 6 bedrooms vs 3) to families that want to vacation together. I entertain big groups such as multiple families and group events (conventions, showers, parties, etc.) I now own 4 different properties (2 duplexes serving as vacation rentals to one party, one bedroom condo and one long term rental) but the most successful are the duplexes used as vacation homes using VRBO. I will not rent the duplexes to two different parties unless it is from Nov thru Feb, which we cater to the retired people wanting 30 day rentals but I will not put two different families sharing the same back yard. That spells disaster.
Jeff - I just purchased (last week) a duplex and am going down that route. The top half has a full time renter and the bottom will be VRBO. We are going to test it out this year and see how it goes. I think taxes and noise are my biggest concerns so far, but we will shall see. If it is not working out well, then we will choose to either go with 2 full time renters or 2 VRBO units full time at the beginning of next year.