Buying tenant occupied house: long-time tenant security dep ques.

[Robert L.]

I am buying a house from another investor where the elderly tenant couple has been there since 1970's.  They are NOT going to be leaving.  Here's the problem.  They have NO security deposit on record at this time.  The market rent is probably $900 but their current rent is $750.  I was told these tenants are total ANGELS and keeps the property in pristine condition and never gave any hassle--this is why the current landlord has been so gentle with them.

I am buying this property because I want to keep these people in here "forever" and just collect reliable rent.  I plan to raise the rent about $50/mo (for now) so that they can "ease" into things, knowing they have limited income.  

Question: should I force them to pay a security deposit or how should I handle this as the NEW property manager?

[Tanya F.]

No deposit in this case. When they move out you'll probably be doing a significant rehab, since they've been there since the 70's.  They're not going to damage anything that you were going to replace anyway since there isn't anything new.

Let them be. I don't  know if I'd even raise the rent.

Do they have pets?