Tenant moving out, do we need to rewrite lease?

[Dolores Waldron]

Hello,

We have 3 tenants in one of our units who signed their lease in September good through Aug 31st 2017.  One tenant has decided to move out and has discussed it with the other two room mates and the two room mates are in agreement and have decided that they will take on the responsibility of the lease between them and may decide to take a 3rd person on down the road.  My question is do I reissue a new lease for the two that are now taking on the responsibility and do we need to refund the person that is moving out his portion of the security deposit ? We technically want to keep one months security in escrow.

Thanks for any advice.

Dolores