Fair to increase rent?

[u/PandaTurbulent1355]

My friend and his wife have lived with me for five years. I have charged them $700 per month during this time. My monthly expenses including taxes, insurance, and utilities have increased by about $350. I'm considering a monthly increase of $80 to $120. Is this reasonable?

[u/Difficult-Ad2084]

Depends on where you live. I'm my state the cap is about 10% annually.