How often do you raise rent?

[Mike Gordon]

I own a couple of SFR and I haven't consistently raised rent the last few years. I've readjusted the rents to just under market while vacant. Both are in relatively strong rental markets (Los Angeles, Tucson). As a landlord do you raise the rent every year or do you wait a few years to step up to a new rent? I'm planning on raising the rent on both houses next year when the leases are up for renewal but this would be the first time in 2 or 3 years for each.