How do we change the people on our Lease?
There are many reasons that you may want to change the people on your Lease, including studying abroad or taking an internship. The general process is very similar whether you are changing the people on your Lease temporarily or permanently.
Here are the steps:
1. The incoming resident needs to complete a Rental Application.
2. After the Rental Application has been completed, the details, like move-in and move-out date (if applicable), will be confirmed.
3. An email, with all the Lease Amendment details, will be sent to everyone on the Lease and the incoming resident.
4. An electronic Lease Amendment (from Docusign) will be sent to everyone on the Lease and the incoming resident. A copy of other Lease documents (Lease, Lease Amendments, Lease Renewals, etc) will be included for the incoming resident to review.
5. Once the Lease Amendment has been signed, a copy will be uploaded to the Documents section of the Resident Center.
6. The incoming resident will be given access to the Resident Center. If the Lease change is permanent, the outgoing resident will be removed from the Lease on the appropriate date.
Here are answers to some common questions about Lease Amendments.
1. Why do you do a Lease Amendment, instead of a sublease?
When subleasing, the agreement is between the person on the Lease and the incoming resident. Instead, with a Lease Amendment, the incoming resident joins your Lease. Through the Lease Amendment, we confirm that everyone living in the house is in agreement on the change and give the incoming resident access to the Resident Center. With access to the Resident Center, the incoming resident can pay their rent online, receive all notices about the home, and submit Requests about any needed repairs. A Lease Amendment achieves the same thing as a sublease, just in a better way!
2. How do we take care of the Security Deposit?
Whether the Lease Amendment is temporary or permanent, no portion of the Security Deposit is refunded until the Termination Date for the Property.
If the Lease Amendment is temporary, the current resident can choose to request a deposit from the incoming resident, to cover any potential damages.
If the Lease Amendment is permanent, the incoming resident(s) would be responsible for reimbursing the outgoing resident(s) for their portion of the Security Deposit. If the outgoing resident has caused any damage at the property, please let us know. We can estimate the cost of the damage, so that the reimbursement can account for the decrease in the Security Deposit Refund.
3. How do I get a copy of the key for the property?
Please ask the current resident to provide a copy of the key. When the residents take possession of the property, all keys for the property are provided at that time.