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Updated over 9 years ago on . Most recent reply

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99
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John Suralik
  • Investor
  • Morehead City, NC
32
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99
Posts

How to Change a Lease Mid-term

John Suralik
  • Investor
  • Morehead City, NC
Posted

Two months into a lease, the couple renting the home is separated and have starting the process to get a divorce. One of the tenants want me to reissue a lease without the other person. Both individuals have good paying jobs and have been dependable dependable and clean tenants. What is your experience with changing a lease? What do laws do I need to be mindful of? 

Most Popular Reply

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37
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54
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Marrio Barnes
  • Real Estate Investor
  • Milwaukee, WI
54
Votes |
37
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Marrio Barnes
  • Real Estate Investor
  • Milwaukee, WI
Replied

You can write an simple lease amendment or find one online and have both residents sign. Refer to a lawyer as needed.

Make sure that the remaining resident has 3 times the  income to cover the rent. Otherwise you be evicting the remaining one. 

 If the remaining one doesn't have enough income, keep both on the lease until the lease ends or you decide to let them out of the lease. Always protect your interest .  Good luck.

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