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!