Rent rates and rising house values

[Earl Kamps]

I am aware of and follow the 1% "rule" when analyzing a new property and setting rent rates. Now I would like to have a discussion what Landlords are doing with rent rates seeing that property values have went up so much. Are people setting rates according to the 1% "rule" in relation to the higher values? House values have gone up 20% or more over the past 2 years, Have existing tenant rent rates gone up 20%? Is the 1% "rule" still doable on new properties purchased or new tenants?

Hoping for a lively discussion