Purchasing a tenant occupied property

[Dave Donahue]

I have a property under contract that is tenant occupied.  Their lease is currently month to month and they are paying about 25% under market value.  Should/can I require them to complete my tenant screening process if they agree to a rent increase and want to stay?  If they do not qualify under my policy then give them a 30 day notice and move on?  Can I start the discussion with the tenant prior to closing?