5 tenants, 1 wants out of lease

[Shawn Mcenteer]

I have 5 college guys in my rental.  So far they have been good tenants.  1 of the tenants wants to move out to move in with his girlfriend.  He has a replacement tenant that I am going to screen.  The tenants moving out had his dad co-sign. The tenant moving in will have his father co-sign for him.  I am looking for lease suggestion/ proper way to make the switch? How should I move forward assuming screening goes well?  My main concern is how I handle lease, do I create new one? edit existing one? Do I need all tenants to sign whatever I do? etc