Did you perform gradual rent increase to market for long-term tenants or present the shock of market rent when it was time to renew?

That is exactly what we are planning to do: learning these baby steps by starting from local properties and then gradually increasing the radius.Thanks again!

For existing tenants bring their rent up gradually to market over a 3 to 4 year period.

You gradually adjust the percentages towards something that makes sense for your business, perhaps quite different than the places you've put the money to-date. 

That worked for me since I needed the time to work on getting my already-purchased replacement home habitable and move stuff gradually.   

It is a long-standing and good tenant but she is aware that once the property is purchased her rent will be going up gradually over the coming year so that she has the chance to adjust. 

Continue to be diligent in your research, seek expert advice when needed, and gradually scale your portfolio as you gain experience and confidence in the real estate market.

If they have been living on the property for a long time, have maintained the property very well, and are paying rent close to market value, I would definitely consider signing a lease and gradually working on renovations.

I honestly think my pricing is too low which I did because I am so new I wanted to get the review count up first and then gradually ask for more per night but good points nonetheless

The biggest benefit I have seen from filing on tenants that did not pay, is that for some of them, they will come and work with me in coming up with an out-of-court repayment plan, instead of having the black mark on them.If you have a patient consistent non-emotional attitude with a lot of people, they will see the logic in gradually paying you back over time.