One tenant wants off the lease?? help

[John Liebau]

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!

[Nathan Gesner]

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.