Acquiring a weekly rental lease! Can I change the terms?

[Ivan Burley]

  If all goes as expected I'll soon be acquiring a lease on a duplex that is week to week.  I was wondering if I could draw up a new lease that is yearly!  There is a clause in the lease that says the agreement is renewed each week unless either party ends the arrangement in writing.  Seems like the best option would be to end the week to week and enter them into a yearly lease.

  I'm a little worried about what the type of tenant would be on a weekly basis.  At the same time I don't want to pre-judge the tenants.  I know each state is different so hopefully someone from TN could chime in.