First off you need to tell us why you want or think you should lower the rent. Are these good tenants who are struggling to pay the rent and you want to keep them rather than risking the unknown? Are you just being nice? It would help if you gave us more info on why. If it is just to be nice and they have not requested it and they are willing to sign a new lease then no I would not lower it. Perhaps give them a nice generous gift card to a restaurant to say thanks or do an upgrade to the property.