Looking at property with section 8 tenants already in place

[Travis Jeffcoat]

We are currently looking at a property that has section 8 tenants in place. They have been in this particular property for years but paying under market value. If we were able to buy this property, what is the best way to consider rent increase? I'm guessing it would have to be approved by HUD. The tenants are on a month to month rental. Could you start the rent increase at the beginning of the month? I am new to rental properties and want to make sure we make the right decision and get best rent possible. Thanks for any advice.