Sometimes multiple people are on an original lease, but at some point, one of them wants to be removed. This article explains how we handle that situation.
So you originally had more than one person on your lease, but now one (or more) of the people need to be removed? No problem! We can (probably) handle that for you. Here's how that works:
- You must fill out a lease form requesting to remove the tenant from the lease.
- The remaining tenants will have to be screened again to make sure that they qualify to rent the property themselves without the other tenant(s), because their original approval was based on the income, credit history, and background checks of all of the tenants combined. This means that the remaining tenants will have to pay the application fee(s) and have their credit reports pulled again.
- When the lease renewal is done, the new lease will only be in the name of the tenant(s) who are staying, but everyone who was on the original lease will still have to sign. This is because the tenants who are leaving have to sign the document that says they are no longer tenants and no longer have rights to the property or the security deposit.
- When a tenant leaves, we cannot give them back a portion of the security deposit. The security deposit belongs to the lease, not to the individual. So when that person leaves, they are agreeing to give up all rights to that security deposit, and the deposit becomes the property of the remaining tenants who stay on with the lease renewal.
- The tenant(s) who are leaving are still 100% responsible for the lease until the lease renewal is effective. "Effective" does not mean signed. The lease renewal may be signed by everyone weeks before its effective date, and all of the original tenants are still responsible for the payments, property upkeep, and rules until the new lease is actually effective, at which point only the tenants who are staying are responsible.
- In addition to the application fees, there is a $250 Lease Amendment Administrative Fee for processing this request that must be paid before Revolution Rental Management will begin processing the request.
- In addition to the above fees, you would also have to pay liquidated damages in the amount of 10% of the remaining rent left for the existing term of the lease. This is to compensate the home owner for the additional risk they are taking on by allowing someone who is financially responsible for the lease to be removed from financial responsibility.
- For example, if the rent is $1,500, and there are six months left in the lease, then you would have to pay $900.00 in liquidated damages ($1,500 x 6 x 10% = $900).
After you've read through all of the above conditions, if you still want to move forward with removing someone from the lease at next lease renewal, please fill out this form: Request to Remove Tenant(s) from Lease Form