Rate Hike Letters Sent

I inherited four tenants when I bought my 4 plex.  Thanks to another BP member who owns 4 plexes in the area devised my rent increase strategy, studied, and studied, and studied.  And then I set my rent among the lowest quintile  in the region, mainly because the units need rehab, but this will be a big increase for tenants (about $140.00 per month).  I explained in my letter the factors.  So far, only one guy is saying he is looking for a new place.  Good luck pal.  I purposely set my rate at the lowest tier of market...there aren't units out there.  All four units need new kitchen cabinets and bathroom guts, and new laminate.  Really all cosmetic.  Don't want to lose one tenant, but in a way, I do want to lose him, so I can upgrade.  Contractor already in place, flooring, kitchen cabinets, dishwasher, and bathroom items already picked out ready to order.