This classification does not include Apartment Houses (with three or more units) or Rooming House (with six or more occupants).Two Family: This classification applies to you if you own and rent out an English basement apartment or converted basement apartment, you’ll need to apply for a Basic Business License for each rental location and you’ll also need to obtain an inspection and approval from DCRA's Inspections and Compliance Division along with a Certificate of Occupancy.

Additionally the room next to mine was now being filled with a male occupant.

And beware that Bound Brook for years has gone through lots of illegal housing issues (similar in North Plainfield) so you want to have your leases written CLEARLY and meticulously; and be sure someone's going in to double check occupancy and that the repercussions for non-compliance are clear in your leases.

Well, analyze it at full occupancy, but plan for vacancy in your operating budget.

I hate going down there.... but an occupational hazard... but at least it is dry and airy...Best of luck

See if your area requires an occupancy permit.

Having a mix of owner occupants and renters is a big plus but it's not necessary.

If it seems on the edge of their affordability, I would be confirm their will not be additional occupants - even if the income looks better combined they could be credit issues that might make the application weaker.

If those taxes are at the investment rate and you are selling to an owner occupant, make sure you have the buyer sign an addendum at closing that the they will settle up the true taxes with you when they are paid at year end (at the owner occupant rate).  

Hi All,Need some advice, bought a owner occupant duplex for 160k; put near 25k into it.