Terminating a lease - month to month tenants

[Shawn Evans]

Morning guys,

I need your help.

My parents in law have 2 long term month-to-month tenants in their condo near Texas A&M. They’ve expressed interest in leaving in August, rendering it untenentable for a year (probably) if it’s Aug 30. 

Do we tell them we have not opted to renew the lease that month, and request they vacate by Aug 15, or do we have a year-long lease put in place, and turn up the rent by 20% compelling then to leave when we need them to?