Here are some ways that you might want to think about that risk1) What does supply/demand look like in your area and how long do you think it would take to get a market rate tenant2) Set expectations with the existing tenants that you would prefer them to stay and therefore you will be implementing a small increase but that they will still be below market and will therefore save $x per year over a comparable rental3) highlight any additional value that you will bring in return for the higher rent e.g. more responsive management, rehabs, additional amenities etc.4) Assess whether the tenant is one that you are interested in keeping e.g. do they pay their rent on time and do they look after the unitGood luck!

@Charles Phanumphai - This could be a novel about why Colorado Springs is a great place to be investing (in my opinion) but here are the highlights. - Some of our largest job markets are military service members (5 military installations on all sides of the cities) and healthcare.

Some of the highlights for this property.

This also adds a sense of seriousness Go through ahead of time and highlight where they need to sign, as well as sticky notes here and there Walk them through the provisions of the lease and have them initial important notesAccepting the Rent Prorate the second month to match the first (full month at signing, a fraction at 1st of the month) Only accept payment in certified funds like a money order or cashiers check, no personal checks or cash For payments in the future, use intuit payment or check bigger pockets forums for more waysThe Move-In Condition Report The last thing you need to do is for the tenant to sign the condition report where he walks through the property and check damages.

To do that you click on someone's name (Highlighted in Blue) and it will take you to their profile where in the upper right hand corner it says "message".

If you can download the PDF to your CPU you may be able to highlight the name and paste it in an excel cell

I did the @ and your name, but it doesn't highlight.

The cost of connecting water and sewer is highlighting the difficulty to support the growth from a municipal side.

Just to highlight a few things that I have working for me that the typical newbie I don't think would have:I have access to costar, parcel quest and SandicorI have the ability to code python (aka scraping data from the internet)Any web coding, website maintenance, etc...

So what I did was I added a big, bold and highlighted message right at the top of my application that reads "ALL SECTIONS BELOW MUST BE COMPLETED AND BE LEGIBLE".Additionally, I also have a cover page stapled to the front of the application that lists all my rental criteria and states "Incomplete applications will not be considered."