You can also do a step up lease. Maybe keep the amount the same this year but bump it up 30 next year. Personally, i raise rents every year. Not enough to make them move but it will be somewhere between 1 and 4%. Really depends on the situation. I have a few rent increase notices i'll be sending out next month. I'm going to be between $10 and $20. That increase is tiny as rents are between 850 and 950. These units will need some updating when they move and i'd prefer to put that work off for a year or two... hence the small increase. 10-20 a month per unit adds up over time. And who is going to move over a $10-$20 increase?
Oh, and my nice A class properties will be getting a much larger increase this year. The city they are in passed a school bond that will increase my taxes a few hundred. All my tenants in this city have kids so i know they voted yes for that bond, i'm at least getting that increase into their rent, plus a little extra for me. That will be around a 6% increase for them. (I actually voted yes for this measure too, my wife on the other hand cancelled out my vote by voting no, that's a whole other discussion... save money or be around stupid people!)