Raising rent/switching utilities while living in a house hack

[Bradley Rieger]

Hi everyone! So last October I bought my first property. The property is a duplex and I am currently housing hacking it. I didn't want to, but after some negotiations I inherited the tenant that's been living there for 15 years. She's always been on a month to month lease so we kept that the same, but I only agreed to that once we the rent was raised. she was paying 900 and I rose it to 1200. When I bought the house I made the rookie mistake of taking on her utilities bill without knowing it. With Covid and New Jersey tenant laws I didn't want to push the issue since I was getting rent every month while I was fully renovation the unit I'm currently living in. Now that its been a little over a year do I raise the rent after I switch over the utilities or just do both at the same time. 

THANKS!

[Matt Ziegler]

Brad,

Here is my take. Notify the tenant about the changes, and move forward. Be direct, and honest and take action.

If they pay for utilities they also at attention to their usage, good for all!

Worst case, they move out, you update the property, it may need it after 15 yrs. Place a new tenant , at market rate and they pay utilities from day one. 
best of luck