There are people who like texas hold'em and 21 and those who like roulette and dice all of those games have risk and reward roulette and dice have far more than Poker however rewards for dice and roulette come quicker and larger in a shorter amount of time.

Bad tenants need to be punished not rewarded for their behaviour.Next time do not use term lease.

We are real laggards in this regard ... too many years of cheap energy has made us wasteful and complacent.Stepping away from the doom and gloom for a moment, while there are precious few truly energy efficient buildings, interest is growing and you are starting to see pressure on building codes to take the subject seriously (though around here, they are still congratulating themselves on finally adopting R22 as the minimum insulation of a wall assembly).However, to date, depending on your clientele, there is no significant financial reward to the landlord to have an extremely energy efficient rental.  

Why would a contract be structured to reward a PM for having late payments and the owner not getting his money on time?

A degree is there to train someone for a career, and fair or not, most people expect a career to be financially rewarding - most are not...Where does this leave us...?

The risks far outweigh the rewards when considering what you could potentially be liable for if the oil has leaked beyond the property lines.

You can get creative with rewards. 

give them appropriate notice, according to state laws, that you are raising rent to market, and if they don't want to pay market they will have to move. you may even consider giving them an extra 30 days if you wanna be mr. nice guy.be prepared for some hard feelings, as after 12 years they will feel as though they have a right to be there. the truth is they don't, but in the interest of getting them out without a fight, you may consider giving them a "reward" for being such long term tenants, such as security deposit in cash the day they move out, or offer to pay for a moving truck, or something like that, but I would only offer if you expect getting them out to be a battle, since it would be cheaper then eviction.

In my opinion it's at rock bottom prices and the risk/reward is very good.

I found that to be a very rewarding experience.