Sounds like a bit of a bargain! We pay someone to do our mowing, and that's easily $80 per month during summer months. If you're doing the upkeep of the lawns, that's saving time and money for the tenants right there. I'd go for it since you're under market price already. Like BG said, if you feel uncomfortable with the rise, maybe do 1/2 now and another 1/2 in 6 months. Or you could leave it and do a bigger increase at 12 months. Don't rip yourselves off though

I think the thing with 6 month increases is with the notice that you give for the increase, it would feel like you start paying the increased rate and you're no sooner issued with notice for the next increase. A larger increase at 12 months would sit better with me as a tenant... but hey... I'm just a tenant. As everyone says, landlord calls the shots.... don't mind us tenants!