I'm definitely not one of those "The Secret" speak it into existence type people, but making a choice to be and think differently is a conscious effort that you have to choose each and every day.

To soften the blow, you could even print a recent article that explains why rents across the country (or your particular area) are increasing at such a high rate.This gives you 3rd party verification and shows you are not just pulling numbers out of thin air.I imagine the tenants will not be surprised, and will likely be wondering what took so long for the rents to increase over the years.I read a recent news article about a lady in Plano, TX that got an increase notice of $750…yes $750 on top of existing rent rate. 

There is an existing policy on the building.  

Working with our 2 existing PM's I've made a very detailed list of what I must have from any PM I work with, PO's, estimates with attached photos of front of unit, posted address, and damage.

DTI currently 37.5% including Rent(23% without rent), Truck, Motorcycle (plan to get rid of both and buy 2 older vehicles) and Existing Student Loan and Monthly minimum on 2 credit cards.I've been developing a plan A, B and C in accordance with what form of funding I can get when the time comes.

Once these units are complete, we're hoping to offer them to the existing tenants at market rate, instead of just serving them notices of non-renewal and saying sayonara.

@David VanlandinghamI’m currently unemployed and my credit is non existent due to a debt consolidation loan.

If it doesn't exist, you could consider starting it, but you probably would have to focus on the EU market as a whole.

I’ve seen 6%-20% so that’s a large range - there is no other option for a property manager in our area as we’re in rural Western PA and those companies just don’t exist here.

I have 3 seasoned SFH’s all paid in cash so no existing loans but I can’t find a lender willing to refi locally because they are all owned under LLC’s.