I have stated MANY times I rent below market.
Don't let him bully you like some message board O'reilly!
I am a capitalistic bitch, and I told him outright, that's right, I like profits and I like spending them on stuff. So what?
I'm not at 250k yet, but I work every day to get there, and I will, and when I do, I am more than happy to pay more.
That's the social contract. It doesn't say you shouldnt make a profit, it says that to those who much is given, more is expected.