Increase rent to market and risk losing good inherited tenant?

[Jared Mcgrew]

We are hoping to purchase a single family rental very soon. The current tenant is an employee of the landlord and has been paying less than half of market rent for the property. There is no lease in place. The tenant has taken excellent care of the property (his wife has also planted flowers and put extensive time into decorations and making it look great). Should we: (A) Bring the rent up to market rent and risk losing a good tenant (B) Bring rent up to what we think he could afford and what would still allow us some cash flow but not much (C) something we haven’t considered