One Tenant Moving Out

[Joe Conklin]

I rented to two tenants that are on their third year in my rental.  I approved them based on their joint incomes.  I receive a call that one of them is moving out two weeks ago.  The tenant that is staying wants to stay for the remainder of the lease term.

1. Should I take the tenant moving out off of the lease?  My thought is no but that is what the tenant that is staying wants to do.

2. When the current lease is coming to an end do I have a right to deny the current tenant from renewing because the income no longer meets my standards?