What's a reasonable percentage to raise the rent?

[Stacey H.]

We've taken over a property that my father-in-law owned, and he never raised the rent for the tenants. The home has now gone up quite a lot in value, but the tenants are still paying the same monthly amount. Their rent has been $1,625 for several years, while the Rent Zestimate is now $2,335. We'd like to raise it to $1900/month, which is about a 17% increase. Is this on track?

[Cory S.]

5% annually does nicely for me in keeping up with the increase of taxes and insurance. 

Although sometimes I don't touch it every year, as not to lose my tenant.