Feel free to use this template:RE: RenewalDear Tenant:With the increased cost of taxes, insurance, maintenance, and other incidentals we are required to increase your monthly rent.

@Izraul Hidashi I’m not claiming to know how the entire banking system works but I feel that I have a pretty good idea.

Get a feel for it and see if you like it.

Lending terms will be important here.I'd say the biggest challenge thus far is making sure I feel comfortable managing this remotely, as it's located about ~150 miles east of Dallas. 

If I don't feel comfortable I also give folks a chance to get a cosigners.

The owners became friends with the tenants and do not feel comfortable raising rents on their friends. 

Feel free to browse my old cringe posts as proof lol.

I feel like it's a space where great operators can really clean up, since the bar is set really low, in my experience at least.

That experience taught me the importance of leaning on local expertise, even if it feels like an unnecessary expense at first.One strategy I’ve seen work occasionally is offering the tenant a “cash for keys” deal, where you pay them a small amount to vacate voluntarily.

Feel free to contact me if you would like more info.