New Landlord Raising Rents

[Raymond Hill]

Hello BP Family,

So I finally closed on the woonsocket property. Realizing the seller was not 100% honest on the maintenance aspect and the rent in the 1st floor. In particular, the rent for the 1st unit was listed for $895 and the tenant showed the history that she's been consistently paying $825. The 3rd unit tenant is a smoker, smokes inside the unit and pays $720 and the 2nd unit tenant is paying $995. 

Luckily, my partner and I long term plan is to keep the property for our retirement so this isn't our get rich quick idea. I am looking to increase rents in the units around March and April and need help drafting up a lease agreement and house rules as well. Any advice on raising the rents and keeping the tenants happy?