I have to read the handbook on landlord-tenant laws before I do anything and just to be safe call the Rent Board, like my recent rent increase with lease renewal. 

3.Additional Fees: Are there other fees I should consider, such as maintenance coordination, lease renewal fees, or vacancy fees?

On the next renewal just site rehabbing the entire unit and get her out.

Just shoot me an email and I'll provide you contacts to a great landlord attorney, investor friendly CPA, and also the necessary steps for leasing to the new tenants, as well as the renewal of the current tenant if/when that has not been completed yet.

Subsequently, I went to Peoples United Bank and got a 4.5% commercial loan with a 25 year amortization, 10 year balloon with a one time renewal option. 

If the tenants are in a month to month lease and the landlord prefers it then you don't have to do anything as the lease should renew on a monthly basis, but it really depends upon the existing lease. 

I'd like to know other landlords' experience of the application, placement, inspection, and renewal process

Even if their pay doesn't increase this is a small enough change for most tenants to adjust to within their budget especially if they come to expect it with their next lease renewal. 5. 1-3% annual increases might not keep up with rent price increases in the short run.

Common fees will include a set-up fee, a leasing fee for each turnover or a lease renewal fee, marking up maintenance, retaining late fees, and more.

The cherry on top is that one of the tenants is choosing not to renew as of 10/31.