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Updated over 3 years ago,
I just got a duplex and now I Don't know what to do!!
Hello Everyone, I just got my first house hack. I am extremely excited for what's to come but I am not sure what to do with the following. The renters on the other side are paying 790 for rent at the moment but I need the rent to be 900 and above to make the numbers make sense. Their lease is done in August and I want to know how to go about raising the rent? I also see that in their current lease it says they shouldn't have a dog but they do have one. How do I go about charging for a pet fee and how much do people normally go for? 25? 40?. Also I think I am going to have them sign a new lease with me but I have no idea what needs to be on a lease to watch my back and so its all in writing.
Also, I know there is a lot of tax breaks now that I am a landlord. Let me know if you know any resources that might give me more information on that!
Thank you all in advance!!!