Many of the properties we manage are multiple occupancy properties. Occasionally during the term of a lease one tenant may want vacate the property, while the remaining tenants would like to continue their occupancy. In order to release the vacating tenant from the current lease, all parties on the lease must agree.
It's important to note that the security deposit stays with the property until all tenants have decided to vacate. Therefore, tenants will need to work out the security deposit between themselves. Keep in mind, as long as a tenants' name is on the lease, he or she is responsible for rent. This is the case even if the tenant is no longer living at the property.
If the remaining tenants would like to add another tenant to the lease, the new tenant must be qualified by PropertyADVANTAGE prior to move-in. We want to insure the new tenant will be able to contribute to rent, verify rental history and check for collections or evictions on their record.
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