How much to increase lot rents on a newly aquired park

[Derek Robinson]

Hello all!

I'm closing on a 8 pad park in South Carolina next month.  Current lot rents are $150 and haven't been raised in years, like over 15 years.  Market lot rent for the area is at minimum $225.  How much do you think I should raise them?

My initial thought is to raise it by $25 to $175, but I'm wondering if I could even go to 190 or 200.  All tenants own their trailers with no payments and all work for a living, so there is no situation of living off welfare or social security.