I do not know of anyone that has increased their rent by 20%, there would have to be some real strong reason to even raise it by 3%. While the goal of a rental is to make income, there is a point where it would not make sense to increase the rate just because you are allowed to by any law. Many things come into play when it comes to rentals, first of which is the going rate in the area, these always seem to move at about the same rate and are more of a statement to the changing costs of things associated to upkeep of a property, utilities and the taxes then the bottom line of the owner.
