Rent rate for tenant

[Adam Azam]

I have great tenants in one of my properties that is reaching the end of the 2nd 2-year lease term. I did not bump rent when they renewed the lease so it will be 4 years without any increase. How much would you bump up the rent by? I think I should bump up the rent, but with all the uncertainties going on right now, I am trying to figure out what would be reasonable, but also fair for them.

[Kenneth Garrett]

@Adam Azam

First research what the market rent is for your rental.  If your under market rent say $50.  You could another two year lease with a $25 increase this year and $25 starting in 12 months.  I would not raise it $50 all at once during this COVID time.