Looking for Advice: Rental house in Ypsilanti

[Jess Hammersley]

Hey everyone, I have a 5 bedroom 2 bath house with a two car garage and fenced in yard in Ypsilanti, MI. In 2019 after some life changes I went to work with full-time travel. At the time I was very new to everything so I reached out to my Real estate agent and she was also doing property management. She took on the property management side for a reduced rate as I purchased the place recently through her. Fast forward to now we have had the same tenants in the place since 2019. They originally signed for 3 years and then year to year. They have now asked to do another 3-5 year long term lease. My property manager hasn't been taking care of things as much as I hoped, failing to even show up for the last city inspection. So going forward I am going to take over managing it myself. Please let me know how to price this properly for a lease term that would extend over those 3-5 years. They have been fairly good tenets and paid on time every time even through the pandemic. Market rent from what I can see in the area is about $3,000 per month for that size place, they are currently paying $2,000 per month as my PM was advising me she doesn't increase that much. Rent had gone up significantly since 2019 but the three year lease had them locked into that rate.  Thank you all for the advice in advanced!

[Nicholas L.]

OK - totally valid.  I find my PMs free me up to do other things though.  

Can you find a friendly local agent who will pull a CMA for you to help you sent the rent?