Renting advice needed - Long time viewer, first time question.

[Jacob Martin]

Hello there. Long time viewer, first time question. 

We purchased a duplex a little while ago. We moved into one unit and kept the same tenants next door. They've been living there about 9yrs now and we did raise their rent after acquiring but not to market value as it's not updated. It should be noted that when we raised up to an amount which was still 300 below what market rents were. 

Were now moving and our unit with a few upgrades, mainly nicer laminate flooring, newer baseboard and a few smaller things rented for 500more than their unit, and this was during off-peak season. 

We are not entirely sure what to do when their lease is up, and wanted to get professional advice from some of yall that have been doing this for a long while. They pay their rent on time and are nice neighbors. Since living there theyve asked for a few necessary items and a couple of cosmetic items later on. What would all of you investors do? 

[Ray Harrell]

Do you want a good known tenant with steady income, even below market rate, or look for a new tenant who might not be as good, may not pay on time, may ask for more stuff than you're willing to give. As quoted from a movie, "The devil you know is better than the devil you don't know."