You don't need to wait for the PM to suggest a rent increase. Pick up the phone first thing tomorrow morning, call the PM and tell him/her that you want the rent to increase $xxpw. You really need to be proactive about this, because even with good PMs it can get overlooked.We are going to change PMs very soon and I suspect the new ones will (I hope) will suggest a rent increase.
I have a spreadsheet with the rents of my IP's the last rent increase and the date for a review. That way, I can double check at a moment's notice. Tenants are also less likely to notice $5-10 increase each 6 months opposed to a big $20-30 increase. If you condition them to small increases regularly, they kind of expect it and don't complain. It costs them more than $250 ($5pw x 12 months) to move and it's inconvenient.