Current tenants staying with rent increase - Security deposit?

[Brennan Vaughn]

Just acquired a 8 unit. 7/8 tenants are staying with a 15 to 20% rent increase per door. New leases will be filled out. Should I have the tenants drop another security deposit for the new 1 year lease agreements even though some of them have been there for 2+ years? 

*Security deposits were deducted at closing so we don't have their current security deposit.

Thanks for the advice

[Greg Scott]

"Security deposits were deducted at closing so we don't have their current security deposit."

You inherit the leases when you buy, which means you still owe the security deposits to the tenants when they move out (net of any damages.)  If you did not get the security deposits as an adjustment at closing, you made a mistake, but you still owe those to the tenants.  Regardless, it would be unusual to ask the residents to increase their security deposits if they have been there a long time.