What is fair in this business?

[Maria Teo]

Hello BiggerPocket members,

I'm probably in the wrong business but does anyone suffer from landlord guilt?

I have a rent controlled building and petitioned to do a capital expense rent increase, which will raise the monthly rent by 10% over their base rent. I wasn't surprised to receive  tenant objections, but one thing a tenant said got to me: "Just because its legal doesn't mean its fair".

This person has lived in the unit 10+ year without any previous capex rent increase. White collar professional. I wouldn't knowingly impose an increase on someone who is fixed income, and of course tenants have the right to petition for hardship. 

Still it has me thinking, what is fair in this business especially since this business deals with something so personal as a person's home. And from a tenant's POV, its always I already pay you rent, why do you need more?

What helps you determine what is fair? When do you push to increase a return on investment and when you hold back?