Sometimes one person on a lease needs to move out and replace themselves with another tenant; here's how that work.
So you need to swap out a new tenant for someone who was on the original lease? No problem! We can (probably) handle that for you. Here's how that works:
- You must fill out a lease form requesting the swap.
- There cannot be an HOA/COA restriction on swapping out residents. If the HOA/COA requires that the residents be screened, then the new resident would have to go through the HOA/COA's application process in addition to our own. When you submit your request form, we will check with the HOA/COA to see if there are any restrictions or applications required and let you know.
- The new resident would have to submit an application and be approved. We will send the resident a link to do that after the form is submitted requesting the swap.
- If there were other residents on the original lease, the remaining residents will have to be screened again along with the new resident, because we must process applications for leases with multiple residents as one group application. This means that the remaining residents 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 resident(s) who are staying, but the resident who is leaving will still have to sign. This is because the resident who is leaving has to sign the document that says they are no longer a resident and no longer has a right to the property or the security deposit.
- When a resident 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 resident(s) who stay on with the lease renewal.
- The resident who is leaving is 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 residents are still responsible for the payments, property upkeep, and rules until the new lease is actually effective, at which point only the residents 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 Swap Tenant on Lease