Is rental arbitrage a good bet?

[Jay Malaviya]

Hi BP community,

One of my tenant is living on property for more than a couple of years and never had the rent review. Recently I proposed rent increase (below market in good faith and relationship) to which he proposed if he can do rental arbitrage for certain time of the year he would be fine with the rent increase.

If any of you have experience with this, please share thoughts. 

Thanks in advance