Taking off a tenant and adding

[Randy Born]

I rent a house to four tenants and one is moving out. Does anyone know how to take one tenant off the lease and add a new one? They are all under one master lease, so I would assume it is a sublease? Does anyone have an example?

All four are responsible for the rent, so I assume the easiest way is to just subtract one and add the other. 

Thanks!

Randy

[Mike S.]

New tenant signs a lease for remaining term.  All tenants new and departing sign an add/remove tenant form (search google, there are lot's of them that can be adapted to your needs).  Make sure that you tell the tenants, and have on the form,  that the security deposit remains with the house and that they need to settle any payment or refunds among themselves.  Also, I state on the form that the incoming tenant has seen and agrees to the property condition/ move in report that the current tenants filled out when they did their walkthrough.