Managing rent increases

[Evan Ross]

Hi all - I own and manage three duplexes in the Boston area (Medford). I have been cautious about raising rents as I try to maintain goodwill with the tenants. It's been less of an issue with my first two properties which cashflow at 3% interest rates, but the latest unit is cash flow negative on a 7% interest rate. Given the cash flow loss on the 7% property, I think I need to remove the emotion and make the right business decision for my portfolio holistically. Medford also just voted to increase property taxes which is another reason to act. 

What is a good system to create around standardizing rent increases where applicable / best way to communicate it to the tenants? Any feedback is welcome!

Looking forward to hearing back from the community.