Inherited tenants and new leases.

[Joshua Hively]

BP family!!! My wife and I are getting close to closing on or first rental property, a duplex. The building is coming with tenants on both sides. One side has 3 people on the lease and 4 beds, and the other has one person on the lease and 2 beds. I have met 3 of the 4 or 6. Both leases will last 7 months after the closing, however the rents are far below market. Current 900, market is 1350. My basic understanding was that when you buy the property you buy the leases. Although today while listening to Mike Butler's Landlording on Autopilot it was mentioned that if the tenants agree you could sign new documents. Is it possible that if I can get them to agree, we could possibly get them onto a new lease with a slight price increase? I would most likely try to keep the move out date for April, because at that point I will want to get in to rehab. Thanks for all of the advice!