Missouri - Buying an occupied multifamily, what can change?

[Lynne Hart]

Helping a client buy an occupied multifamily and he may want to change some things about leases after close.  I've never actually done this, always just rode the leases out and then renewed on my own contract.  So, questions:

 - Must the current leases be honored in exact terms? (not wanting to kick anyone out, but may want to adjust policies)

- If someone is in a unit on a lease that expired a long time ago, I assume we can put them on a new lease after close.

- Even if we didn't change policies or terms, can we update the existing leases to the buyers preferred contract if the basic tenant cost and amenities, etc don't change?

Where are the boundaries and guidelines here?  Is there a common approach to