Tenants ask for delay rent increase - Please advise.

[Jane Dang]

I need your advise, what should I do.  Yesterday I delivered a rent increasing note to my tenants.   It is 7% increase.  I gave them a 60days notice even the law only required 30 days.  They ask me to extend the note to 90days as they are in difficult time now.  Please advise what should I do?  They said the wife is not working now as she needs to take care of her dad who is sick.

[Walt Dockery]

If you're really 25% under market and they can't afford a 7% increase I think you're better off turning the unit over and finding a tenant who qualifies at market rent.