I've had some rentals that are 2% or even 3% rule, but I've never seen a $500,000 house in my area rent for $15,000 a month.A friend of mine does rent short term, all inclusive condo rentals to movie stars and other famous people like professional athletes. 

Finding a new tenant who doesn't pay on time or doesn't take care of your property.Have have it good right now and don't realize it.I would approach them with:You guys have been great tenants and if your willing to sign another 1 year or 2 year lease I will hold your rent amount at these levels for the duration of the lease you sign.Then I would thank my lucky stars if they sign a new lease at same rate.Take care of your great tenants.

The key is to hire a "Rock Star" Property Manager.

Write an appropriate, factual 1-star review about him on Yelp, Google, Yellow Pages, Angie's List, etc. 3.

I'm just thanking my lucky stars that I got rid of one problem tenant when I did (6 weeks ago).

You're going to go into this, go in minus any Nature-Boy illusions or slumlord stars in your eyes.

You just better make sure that is in giant bold font and get the tenant to also initial it, because if the title is "lease" and it stars out with a one-year term, the tenant has an argument that they reasonably understood that they had a lease that wouldn't end until the end of one year.Why not just do a month to month agreement? 

Hey Matt, you are a rock star.

@Johnny B Bad hey don’t drag Patrick Star into this conversation.

I have a 5-star rating and am a qualified Super Host.