Hi everyone,
I own a detached duplex (main house is split into two properties so three tenants in total). I have rental agreements of $1700 each - total $5100 and my total P&I is $4100. Tenants pay for water and gas are on one meter and already shared across all three tenants and split evenly. Provided I have a strong predictable understanding of the monthly utility costs, is there a way and is it suggested for me to increase the lease agreeements to add the average monthly costs of utilities to be included in my lease agreements so that I pay utilities and increase my lease agreements by say $200 to $1900/month and bring my monthly rental income to $5700/month to increase the total revenue generated and improve my DTI when looking to get another loan instead property? Is this a strategy worth pursuing and can I write something in the lease agreement to charge more if the utilities start to increase above the projected $200 per month?
Thanks!
Eric
