New Leases for Inherited Tenants?

[Todd Ashley]

Well, I close on my first investment property on Friday - crazy timing, I know. It is a small 4-unit property and I will be moving into the only vacant unit (owner occupy). I will be inheriting tenants for the other three units. The current tenants are all on expired leases, which in Portland, OR, automatically become mont-to-month leases after the expiration of the one year lease. What is the best way to move forward? Do I need to have them all sign new leases with me? I am assuming I cannot make significant changes to their current leases? I plan to use Cozy for communicating with/managing tenants. Any guidance is appreciated!