Purchased a leased multi-unit

[Geo Tan]

Hello Bigger Pockets family!

I was lucky enough to be able to purchase my first 4plex property! I had a few questions in terms of how the leases the tenants that were renting the unit out prior to me purchasing it works? I guess I'll list them out as simple as I can and I can answer any questions on the details since I'm fairly green to being a property manager.

1. The lease that the tenants signed was an extremely basic one since they were made by the flipping contractors. I would like to add things like regulations on drug use, smoking inside, subleasing, etc. What is the best way to go about this? The lease is for one year, then goes to month to month. I know I can't do much to change the lease until the year is up (or can I?). So after the lease goes month to month, can I just make a brand new contract for them to sign to lease for 1 year?

2. Once the year lease is up and it goes month to month, can I give them a 30 day notice to vacate with no real reasoning? Or would there need to be just cause?

3. Piggybacking on question 2, how do most people calculate appropriate rent raises on a non-rent controlled property?

4. What is the final pusher that gets managers to finally decide to evict their tenant? If they pay rent on time but are not taking good care of the unit, would you keep them then just charge everything through their deposit? What if you start to feel like the deposit won't cover the damages they are doing to the property?

As usual, thank you all for any and all help clarifying these questions and if you need any additional details, don't hesitate to ask! Thanks in advance!

Cheers,

Geo