As a former landlord I’d do the same thing I did then - keep my price low if I like my tenant or increase / not renew the lease to kick them out essentially. There’s a lot of variables to pricing for different kinds of landlords.

It’s also illegal / breach of contract to increase rent based upon a person’s increased income as well unless it’s outside a lease period. I was told this as a landlord and I was mostly interested in getting a good tenant rather than trying to get the most dollars anyway. A bad tenant costs you far, far more than whatever you’d have increased your rent by.