Ontario Laws for tenants/ landlords and eviction

[Dominic Battaglia]

Hey guys,

I am looking to buy a duplex that is currently being rented out. Both units are being rented out well below market value, and they are large units. I want to evict the tenants in order to make renovations and charge market level prices. They are currently on a month to month agreement. 

If I purchase the property, will they have to renegotiate with me? Will I have issues raising rent from 900/month to $1200?, what are the laws around renovating income property?

Thank you!