Transfer of tenants after sale

[Sean Connolly]

Hey BP,

Currently under contract for a 3 family. When being shown the property, I was told one tenant had a 6month lease for 750. The other (Sellers son) was on a month to month lease for 550, family discount I assume. I was just given the paperwork that the sellers son signed a 12month lease at 575. I was planning on raising his rent to 750 because that is what its worth. Am I in any way bound to their lease agreement? Thanks in advance.