How to serve notice?

[Graeme Harris]

Hello, my wife and I are about to close on our first house hack and we’re about to inherit two renters that are on month to month leases that are way below market rent. We have to give a 30 day notice to one or both of them because we have to live in one of the units. One unit also needs some TLC. 
Two questions 

Do we evict one or both?
what’s the best way to give notice? and is it okay to give them more notice than 30 days? 

[Jill F.]

When I buy properties with way under market tenants, I have a "bad news bear" letter that I send out which introduces us, explains the current situation and tells tenants what the current market rates are, and for tenants not under leases, when and how much the rent will increase. It explains that tenants under lease will adjust at the end of the lease term. I also include rentometer reports showing area rents for the last 6-12 months and a list of other properties I have for rent at lower price points. Usually I'll give undermarket tenants 90 days notice and offer a month's rent in moving assistance if under rent people exit in the first two months (though Ohio does not require it).