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Them signing a lease actually protects them more than it does me anyways. The rules remain the same, minus the month to month part. A lease however does protect them from me raising my rents during the lease period, which I do raise my rents on the units yearly (unless a lease prevents me). I typically raise it by 5% per year as a minimum.
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I'm curious.
If you had a good tenant who kept the place up, was paying at or just under market rates for similar units, would you still try to get the increase in if there was pushback? Or is keeping the good tenant and not rolling the dice on the next one worth it (not to mention the month at least the unit is not rented).
I'm the type that moves when I feel someone is trying to screw me due to "lock in" - and I'm a decent tenant, I never call my landlord, fix almost everything myself if it breaks if the cost is under $100, pay on time or early, etc. I also tend to stay put for years on end, and am out of town almost 50% of the time so it's even less wear and tear on the unit. If my landlord tried the 5% year on year increases, I would have considered moving the first year, and absolutely moved the second. Even if I stayed two years, you lose money on that month of rent you can't get due to having to put the unit on the market again, paint it, etc.
I guess this also depends on the housing market in your area as well. Here, I can get a similar place for roughly the same cost. Obviously if I was $100-200 under market for similar, I'd expect an increase.
-Phil