For about half of my tenants, I increased rent >$50 a month day 1 and didn’t lose a single person. Actually I gained some. Not a single person has moved out since…that doesn’t necessarily have anything to do with the rent raise however.
My thoughts are that if you’re raising to market, why would anyone leave? Are they going to pay thousands of dollars to move their homes across the street just to pay the same amount? Doubtful. That being said, I think if market rent was much greater than current rent I would do the increase over a year or two.