I believe the markets are crazy because there's a major construction shortage right now.

There are some risks in short-term rentals and non-conforming rentals, but at least while there is a housing/rental shortage, Seattle isn't focused on the issue.Sorry for the novel.

Hopefully the city wakes up...we have a housing shortage here in Seattle and the city is trying to solve it but they refuse to recognize the core issue...that 65% of the land in Seattle is zoned Single Family.  

I would like to increase the rent to market I have come up with this plan which works into timing but it goes like this give them 60 days notice to a scheduled rent increase schedule. in 60 day rent would go to 1200 followed 180 days later by another increase to 1300 than in another 180 days the last 50 to a market of 1350. now for the timing march 1 I have a 2bd right next door opening that I plan to market it for 1150so it boils down to letting them choose between downsizing to the 2bd or going with the 3bd with the rent increases. currently there are NO SFR in my town for less than 1800 mo so there is a shortage of rentals which makes me think I wont have to much trouble renting 1 or both. but there is still part of me that says don't rock the boat and wait until they move on but that may be  while so that's a lot of potential opportunity lostwhat say BP about my plan. am I being Mr.

@Ross Leavitt,Due to the shortage of upper-end rentals in the area, we will be expecting very little vacany during the summer (or any other months).

There are costs that eat into their income.I've had no shortage of people see my house and I have a no pet policy.A weight limit on dogs has no bearing on whether they will tear up your house or not. 10 pound dogs piss all over the place too. and 50 pound dogs could be very docile.One of these days, I'm going to do a pet experiment, and see how much better the applicant pool is.

It would not be a problem to find renters as there's a shortage for short-term in this area.

As you probably know (this is sort of like me telling you the sky is blue), there's a serious shortage of homes (both for purchase and rental) here in Arizona.  

If we do lose them, there are no shortage of applicants in Athens, but we would probably lose the rent until next august.

I assume the shortage is most attributable to large upfront lump sums, then a smaller annuity stream, at the bubble valuations of course.