But here’s the T, when borrowers that locked in the last 30 days, start hitting their lock expirations in 30,60,90 days, what does THAT do to the market prices?

If you're on good terms with the tenant I would approach them and ask if the cracks can be fixed before their lease expires.

I have a friend who has been renting from this landlord for about 2.5 years now and his lease is set to expire in May.

We were in the eviction process when the tenant's lease term expired and he finally agreed to go.

@Kyle CurtinHi Kyle, I had an inherited tenant’s lease end a few months ago that was around $600 under market value. 60 days before the lease expired I had a conversation with the tenant about renewing.

A month later one of the tenant whose lease expired moved out.

Hi Anand,You can raise rents at the expiration of the lease agreement.

In the meantime, my rate lock will expire. 

I have considered renting out for $845 a month with $150 of that per month put toward the option that expires at the end of year 3 or 36 months in.

My response was if your not happy I would let you leave before the lease expiration.