Inherited Tenants Lease/Rent Raise

[Andrew Kessler]

For properties with inherited tenants that are currently on month-to-month leases how do you personally go about the leases in place/rent increases?

If the tenant is month-to-month do you have them sign/agree to your lease upon taking ownership or continue with the one that is already in place? (My lease is more thorough and has been reviewed by multiple attorneys).  My plan is a gradual rent increase over 3-6 months to move up to market for this specific example. 

My thoughts are to bring documentation for the first rent raise and our lease agreement to the tenant upon taking ownership. 

Any feedback is greatly appreciated, thank you!