Rent increase notice and renewing lease

[Matthew Wright]

I have a acquired an 8-unit with all units occupied by TAW, and improvements are wrapping up, so now its time to re-up the leases and increase rent. Im thinking Ill email them to notify rent increase that will be effective in Sept. but Ill also require new leases. My question is, would you simply notify them and explain to them that theyre required to sign new lease at new rent rate and if they dont then they need to move on?

I havent done rent increase to an entire building at once that had all tenants at will (month to month). So looking for input on this scenario and if theres anything to keep in mind.