Rent price vs tenant stability

[Henry Chen]

Hi BP family, Like to get your take here. One of my 2bd condo should be able to rent out for $1700 according to few sites I've researched. However the next door neighbor in a 1bd asked if I would rent for $1500, and he has been renting this 1bd for past 11yrs and I can call his landlord for reference I think most of us worry about tenant stability but at what cost. While past rental history is good, it cannot dictate the future. I'm still screening other applicants $1700. What would you do here? What's your rule for rent changes? Thanks Henry