Lease Renewal and raising rent amidst COVID19

[Nicole Lakanen]

Our tenants current lease is up June 1st. We sent a lease renewal form for the next year with a rent increase of $20. Mortgage expenses had gone up by $50 in the last year.

Tenant is interested inside renewing for another year but is asking that we don’t raise rent due to her not working because of COVID. She owns her own cleaning company and did just get PPP.

We are contemplating waiving the rent increase until businesses open again, and resuming the $20 increase then.

What are people doing with rent increases right now? Skipping them or business as usual?

Thanks!