Lease Renewal Question

[Anton Bieliauskas]

Hi,

Newbie question.  My current tenant's lease is up in a few months.  My property management company emailed me and said they are folding and will cease to exist in 2 weeks (no big loss, they were a nightmare).  I'm going to manage my tenant myself going forward.  I asked them if they wanted to renew their lease for another year (they're good tenants) and they said yes.  My question is: if I have them sign a new lease right now that will include the last couple months of their original term plus a year, is that ok?  Or do I need to wait out the current lease which is up in a few months.  I'd rather not do that since the lease was written by the soon to be defunct prop management company.  If I write it up myself as of tomorrow, then their old lease would overlap with my new lease.  Does signing a new lease legally terminate the old lease?  thanks for your feedback.