I always renew leases each August at the college house I rent out, coinciding with the new school years of course. The current tenants told me they were interested in resigning a new lease when I asked them this past January. Told them I'd be raising the rent on the house by $200 /mo. They tried playing hardball with me on that, but I laughed and reminded them that there are plenty of college kids out there looking for rentals near campus like that, and that I'd gladly let them move out if that's what they wanted to do.

They initially refused to sign the new lease, so I gave some potential new tenants a tour in March. The current tenants responded to that by begging me to let them sign the deal first, so I decided to be nice and let them. They've been solid enough other than whining about the increase. Guess their parents need to send them each an extra 50 bucks a month now!