Lease up for renewal, advise on rent increase

[Amy Lee]

Hi everyone! Just joined BP, heard a lot of good things about this knowledgeable group. Need some advice on how to handle rent increase. My tenants been renting my house for the past 3 yrs. and I have not raised their rent. Their lease will be up for renewal in a couple of months. They are wonderful tenants and express interest in renewal another year or two. With costs going up, I need to increase my rent in order to break even. How much would be a reasonable amount? Any advice and suggestions are much appreciated!

Amy