Month to month tenants - keep or vacate

[James Brown]

Hello Biggerpockets, I'm writing this post to ask for some advice. I'm about to close on a 4-unit property in Illinois. 3 of the units are currently rented out on a month to month basis. Tenants all seem to have good quality and have been paying rents on time.

My question is whether I should terminate the leases as soon as the deal closes, likely in late November/early December. I have to give notice a month in advance, so it means the tenants will have to leave by end of December. There are a few considerations. On one hand, I'm hoping to do some rehab as soon as possible so I can start renting the units out at higher price. On the other hand, end of the year is probably not the best time to list, and I'm worried that I may not be able to rent out the room for a while. Also, it feels a bit cruel to kick people out at the end of a year, with the cold weather and the holidays.

Very interested to get everyone's opinion. Would you keep the tenants for a while (say for another 3-6 months until it becomes warmer and the market more active) or ask them to leave as soon as possible? Thanks in advance.