Starting Out with my real estate business

[Stephen Caleb Richard]

Hello bigger pocket family,

I was curious on a particular topic on rent. Lets say that i have a single family home or an apartments unit and the rent was set on a set price, lets say $1200/month for a tenant. Then, the market goes up, lets say $75. can i leave the rent price at $1200/month for that tenant until he/she decide to move out, or am i obligated to raise the rent? 

FYI: to some, this question may seem dumb to you but i genuinely don't know.

[Matt Payne]

@Stephen Caleb Richard my quick answer would be it depends on if there is a lease agreement signed or not, which would “lock” in a rent for X amount of time. Secondly, if you own it you can do whatever you want, again relative to any agreements that may have been signed.