Inheriting 5 tenants, rehab, raising rents...HELP!!!

[Jeff Oberts]

Hi guys!

I just got a quad and an additional adjacent SFH under contract. Each unit is occupied, I believe on a month to month lease, or I'm assuming no lease at all (we'll find out more this week). All 5 units could use some rehab if not full renovation. Also, at least 3 of the 5 tenants' rents have not been raised in years (like 15+ years!). My question is, should I:

A) Raise rent on each unit like $100+ and hope they leave so we can begin rehab (units are currently renting from $275-$400)

B) Leave them be, maybe raise rent like $25, and just rehab whenever they move out or get evicted

Any information or suggestions are greatly appreciated!!!