Great question Brent,

We qualify the replacement resident per standard criteria. Once approved, we add the resident to the lease (writing a new lease that starts the day the new resident moves in and ending the date of the original lease).

Once everything is signed, we then process a Roommate Release, with appropriate forms, that absolves the original resident of their financial responsibility. The deposits stay on the account until move-out.

Having multiple residents going into the process can be difficult, as Anonymous posted. Unfortunately, we do not have a solution in place for that. I hesitate to say it, but it may involve civil court between the two residents if one won't sign a release.

What if the exiting roommate does not sign off on the change. She has been unresponsive and uncooperative in my situation.

Does anyone have a "Change of Roommate" form that they are willing to share with me? I have this situation fairly often, and it would be helpful.

What I have done is process the potential roommate to make sure that this person qualifies and is added as a roommate. I make sure each (potential) household member meets the income requirements ON THEIR OWN. This limits the chances that neither person relies on the income of the other to meet their rent obligation. That said; let's say that the new person IS qualified to move in and is added to the lease. This is not a problem to add the new person. Let's further say that the original person needs to leave for whatever reason; but the new person wants to stay. This is not a problem to remove the original person from the lease, assuming that all parties agree. I have a document that the departing resident must sign that releases him from any interest and responsibility for the unit. If the departing resident paid a deposit; it is left between the two parties to settle that amongst themselves (say there was a $300 deposit, the resident remaining pays that to the departing resident; and is entitled to any amount you owe the resident at the time of the turn).

Allowing this; reduces the number of, and costs incurred by, your turns.

The reason behind our current policy is so that we do not have to turn the unit mid lease which is an extra cost to absorb. If the vacating tenant chooses to break their lease, they are required to pay a buy out fee to help cover the cost of the unexpected turn. If the incoming tenant is qualified and agrees to take the unit as is then we do not have the unexpected turn costs.

I do not think I have ever had a situation where they incoming tenant has requested a new lease. The vacating tenants have always found someone interested in pursuing this arrangement per our policy.

You would have the Resident sign a room mate addition form to add the person to the lease, then run a credit on the new resident to make sure they would qualify. If they do then both parties will sign a room mate release form to delete the original resident off the lease. This will release the original Resident of all rights and will give the deposit and any damages to the new resident. It can still be on the original lease as long as you have all forms signed.