Should I evict, give notice or wait?

[Jeff Mills]

So I recently closed on my first rental property. It's SFH that has had the same Section 8 tenant for over 4 years also with the same PM company. The tenant is now month-to-month and the rent was due on the 1st but has not come in yet. The Section 8 portion was actually pretty late as well but I think it may have had to do with the change of ownership.

I received an email from my PM saying that they were going to start the eviction process unless I told them otherwise. Since it's month-to-month wouldn't it make more sense to just give the 30-day notice that I will not be renewing the lease?

Also with a tenant that's been there over 4 years and according to the ledgers I looked at was never this late paying rent should I wait a little longer in case it's just an issue with the change of ownership?