Buying a house with renters

[David J.]

I am buying a house with renters in place and need some advice from some seasoned knowledge holders. Scheduled to close July 20th. The rent is about 15% a below market rate and lease ends in October. I have inspected reciepts and diligence on the end of the current owner. Everything seems to be in order.

I know the lease survives the sale. What I am interested in are my options concerning the tenants.

1. Keep them and deal with the rent price in October.
2. Pay them to leave and get the market rent now.

Does anyone have any other ideas or experience with ways to protect or manage the situation. I have a waiting list for my properties. I could put a new tenant in at market the day we close if it was vacant.

Thanks in advance.