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Raising rents

We are new owners of a duplex in the Sacramento California area. One of the tenants rents is undervalued however they are in a lease until October 31 2017. Can we legally raise the rent on this unit or do we have to wait for the lease to be up before we can raise the rent?
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You can send them a Change of Terms Notice increasing the rent. They must receive Notice before Oct. 1st to be effective Nov. 1st....... Also,you really need to determine if they plan on renting from you for another year, rent month-to-month or move. As of Oct. 31, the lease terminates and they are not required to give you Notice if they vacate by that date.
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