My partner's family owns an STR, free and clear, worth between 1.8-2 million in a popular vacation destination.

I'm particularly focused on local STVR (Short term vacation rental) properties that are officially licensed by the county of Hawaii to operate short term rentals.

Since the tenants already had 30 days to determine if they are moving out, once presented with the new lease I give them only 3 days to sign the lease or get a notice vacate. 

Over collection of rent doesn't eliminate the notice to vacate, they're still legally obligated to vacate on the 15th.

The best place to look is this website here:Pocono Vacation Homes for Sale (poconovacationhomesales.com)For me personally, I own an Airbnb in the Penn Estates community.

Given that it's almost a 50% increase from the existing rent price, you might want to set a timeline of 2 or 3 months before it taking effect so they can find alternative housing if they plan on vacating instead of staying at that price point.Another option could be to ask for the rent increase, but offer something in return.

I used a HELOC for my half of a down payment for a vacation rental property.

We are a vacation property so people who plan tend to book ahead of the Airbnb crowd.

I understand that my lease is set to expire on July 15th, and I was asked to vacate by that date.

(Max vacated rents - your monthly mortgage payment) = +/- net cashflow.