Tenant requesting change in the lease

[Linda Thomas]

Hello,

The lease is in 2 sisters names. One of the sisters contacted me asking when she can remove her sister from the lease? I think it is best to ask some follow up questions such as is the sister moving out? is someone else moving in? how would you handle this and would you just remove the sister from the lease if the one that is staying can afford the rent alone? also would you request proof that the sister is no longer going to be living there such as some type of document like a change of address form? would you type up a new lease and charge them for the fees to type up and make the change? 

looking for advice and suggestions, as always thank you all for your help! 

[Melanie Thomas]

Hi Linda,

Once you have obtained written confirmation from all tenants regarding the change and have established that the security deposit will be forfeited by the exiting tenant, you can proceed with the following steps:

-Re-qualify the tenant who will be staying to ensure they have the financial means to afford the rent on their own.

-Apply a lease change fee to cover the administrative costs associated with modifying the agreement. Then, draft a new lease agreement in the name of the remaining sister only.

By re-qualifying the tenant staying, you can ensure their financial stability and ability to continue paying rent independently. Charging a lease change fee is reasonable as it compensates for the additional work required to update the lease and related documentation. Good luck & happy investing!