Month to month tenancy. Increase rent or end tenancy. (Ontario

[Mark Brazier]

I just purchased a multi unit property in Ontario and the rents are quite low in comparison to what they should be. So I have a couple questions about going about these increases. I have been making some improvements on the property and I have told tenants verbally that I am looking to increase rents for May 1st. I haven't yet received any resistance and one tenant even acknowledged her low rent when I met her on day one of taking the property over and she offered to write me a check for a higher amount. My improvements have now come to an end and I would like to get something in writing from my tenants.

So none of my tenants have a lease they are all month to month by default. Now I don't know if I will get resistance from them but I would like to a) have them sign a lease for my desired rent which is more than the guideline increase set by landlord tenant board, or if I get resistance b) end tenancy and renovate their apartments altogether and rent them for full market rent. 

Can I do this? Should I do this? Has anyone ever done this? 

Thanks!