Section 8 lease renewal timing

[Jason R.]

Hello! I am purchasing my a SFH to rent out. It is currently rented out to a section 8 family, they have been there 2 years and their lease ends at the end of the month, they would like to stay. I hope to close by the end of the month as well. I would like to request an increase of rent from the housing authority, this process would take 60 days from the day I obtain possession.

My question is, do I go ahead and sing the family to a new lease, and then request the rent increase? (If approved, do I amend the lease?)
Or, do I keep them month to month, wait until I get a response from the housing authority on rent, write that new price into the lease and have them sign then?

Thanks!

[Kyle J.]

@Jason R.  You can, and should, have them sign your rental agreement as their new landlord.  However, it's just as easy for it to be a month-to-month agreement as it is a 12 month lease.  On mine, it's the same paperwork with essentially just a check box being the main different (and the end date of course).  

There's no right or wrong answer here.  Just trying to give you something else to think about since the MTM does give you some more flexibility with regard to raising the tenant's rent in the future.