Taking over leases from a PM company with a 4-plex we are buying

[Monte Blunk]

Question: We are buying a 4-plex that currently has a PM company in place that holds all the leases and deposits. This is the first time we have dealt with a PM company instead of a seller who manages their own property. We are deciding if we just want to continue with the PM company they are using or taking it over ourselves. We manage our other properties so the questions is ...

If we do take it over from the start how do I make sure we get the rental amounts for the new month and deposits transferred over to us? Do I have to have the tenants sign a new lease on the day we close? How does this work?

Any other issues I need to be aware of when buying a property that is managed by a PM company?

Would love any thoughts on this from other investors.