How much can i rase rent

I need to no if i can rase the rent by 500.00 month with a 30 day notes

This depends on your states laws, but most states allow you to raise rent no more than $50.00 every six months, unless the lease is due, at which time you can notify the tennent that rent will go up $500 a month if they choose to renew the lease. Contact your local Housing Authority, and they can give you the specifics for your state.

Wow I wish we all could be so lucky as to have a tenant for thirty years. You know that is alot of money and you shoudn't try raising the rent that high at one time. I have learned in life that sometimes it is better to have a reliable tenant that pays their rent on time and stays around awhile. You may lose him as a tenant if you raise the rent that much. Also remember you can ask what you want but you can always get a renter that doesn't pay the rent on time and end up losing money if you have to ever evict anyone for not paying for rent. I guess it must be business to you but the guy seems like he is happy there and for thirty years you have you must of been also. At least talk to the guy and fill him out as to what you think he might be able to pay. The cost of living is high but the econemy is relly poor right now.