Rental increase during pandemic

[Heather Hanoski]

I have a tenant who is coming up on their 1 year lease renewal. The existing lease allows an option to move to month to month should we both agree, and I don't really have an issue with that. She's been a good tenant. However, I sent her a renewal letter offering her a 1 year lease renewal deferring any monthly rental increases by a maximum of 1 year hoping this would entice her to stay. She has a situation and needs to move to month to month. Again, I'm ok with this, just sharing my attempt to get another year lease signed to avoid the hassle during the continuing pandemic. 

So now I'm wondering what would be a reasonable rental increase? The facts are the lease is up mid- November. Which means if she decides in another month that she isn't able to stay for any reason, I could potentially have a property vacant during winter months (in MN), and during a pandemic, which I was hoping to avoid. So my risk has just increased substantially given the timing. 

Curious on thoughts on how others would handle the rental increase (how much)? I have to increase because not signing a year lease only tells me that she's thinking of moving on and if it weren't for the pandemic, I would have issued an increase anyway. I was just trying make a move that would benefit us both.

At current rent, I would be roughly $70-$75 below estimated rental value. 

Thanks for any feedback!