Rent increases

[Derone Patterson]

Im in the process of getting my first duplex as an owner occupier. I just got my appraisal report and it said suggested rent for the two units is about $650 and $675 per month. I will be inhering one tenant thats been living there for five years now and has been paying $500 per month ever sense. The duplex is a 1600 sq ft. Sells price is $97,000 It appraised for $98,000. Long story short. How should I go about increasing the rent to market value without upsetting the tenant? Thanks for reading and answering this important question.