Taking over MTM leases

[Christian Hanus]

In the process of purchasing my first multifamily property and have a general question regarding the mtm leases that are in place. The current lease they’re on describes how to submit payment to owner, obviously that will change once I own the property. How would that work? Hopefully it should be easy since it’s mtm but would I have to give a 30 day notice of rent increase and wait until the month after for that or could I do that without a 30 day notice? How would you change the person to give rent to if they’re on a 12 month lease without changing the lease out of curiosity?