How do you handle Lease Renewal?

[Corey Pascuzzi]

The lease at my SFR will be up in May and this will be the first time renewing. I thought it would be pretty simple, but then I started thinking about it more and came up with so many questions. Are there certain laws or procedures I need to follow? I have checked the laws in Massachussetts but didn't see anything specific. Do I mail a copy of the new lease, ahead of time so the tenent can review, or do I go review it with them in person. If I increase the rent, do I collect the difference in security deposit and last month's rent? Also, what is an average rent increase after the first year? I have done a little market research and I believe the market could justify an additional $25, but is that too much or too little? How will the tenent take it? Should I plan on explaining the reasons for the increase (there are more than just the market)? I would like this tenent to stay, but I feel there needs to be an adjustment in the rent. Lots of questions bouncing around in my head, sorry for the long post, but I would appreciate any feedback. Thanks so much!