One tenant wants off the lease?? help

Kansas City, MO · Member since 2017 · 21 posts · 5 votes

I have inherited tenants, one of them just asked me if they could be taken off the lease and only have the other tenant remain on the lease. Their lease is up in July after which it is month to month. I was thinking they are both are responsible for the remainder but with a 30 day notice I could sign an addendum that they both agree to take one person off of the lease. But then I'm not sure how to handle the deposit.

Any experience and help is greatly appreciated, thank you!

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Nathan GesnerBusiness Member

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Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes

It's extra work on your part so figure out a way to cover the expense. I charge a $50 fee every time I add or remove a tenant. I also use a standard form that clearly explains what happens with everyone involved.

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Mark H.
Richmond, VA · Member since 2016 · 215 posts · 129 votes
8y
Deposit stays until they both move out. It's between the two of them to settle if the one leaving wants "their share"
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Mike McCarthy
Investor · Philadelphia, PA · Member since 2016 · 2k+ posts · 1k+ votes
8y
Give them an addendum for them both to sign that relieves one of their responsibilities and transfers full responsibility to the other. Add a statement that the deposit remains $xx and will be returned to person a at the end of the lease per the original lease terms. Tenant a and b are responsible to split the deposit as desired. (Not your problem)
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OP
Kansas City, MO · Member since 2017 · 21 posts · 5 votes
8y
Great thank you so much! I looked up similar questions after I had posted... They talked about verifying the remaining tenants income, so basically I told them that the remaining person would essentially need to reapply to renew the lease. Anyways they said never mind they'll keep it how it is. Thanks for the thoughts on the deposit I'll remember it for next time.
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Dick Rosen
Property Manager · Gilbert, AZ · Member since 2009 · 1k+ posts · 451 votes
8y
Have them both sign an addendum that removes one tenant and the other remains. You should not give any portion of the deposit back to anyone until everyone has moved out.
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OP
Kansas City, MO · Member since 2017 · 21 posts · 5 votes
8y
thank you
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Nathan GesnerBusiness Member
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Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
8y
It's extra work on your part so figure out a way to cover the expense. I charge a $50 fee every time I add or remove a tenant. I also use a standard form that clearly explains what happens with everyone involved.
The DIY Landlord Book4.7245 Reviews
Website View Page
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OP
Kansas City, MO · Member since 2017 · 21 posts · 5 votes
8y
That’s a good idea. Are the things that have been mentioned in this post included in your form, or would you care to share a little more about what happens?
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