Raise rent and get rid of pit bull on new purchase

[Julie Haveman]

Hi, We close on a duplex this coming Friday. The rents are significantly below market rents. They are at $610 per month on each side. The market rent is about $925 per month. Rents have never been raised and the tenants have been there between six and seven years. One of the sides also has a pitbull in it. Our insurance does not cover that breed of dog. What is a good way to raise the rent and get rid of the pitbull all at one time? They are on month-to-month leases. Would you raise the rent in steps or all in one fell swoop? Thanks for any help you can give me.