The Change Of Tenant Lease Addendum is essential when a tenant needs to be replaced on an existing lease while keeping the original lease agreement intact. This document, commonly used in U.S. residential and commercial leasing, formally documents the transfer of tenancy rights and responsibilities. It protects all parties by clearly defining the terms of the change, including security deposit arrangements, liability releases, and effective dates. The addendum ensures compliance with relevant housing laws while maintaining the continuity of the original lease terms.
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1. Parties: Identification of landlord, original tenant, and new tenant
2. Background: Reference to original lease and reason for change
3. Definitions: Key terms used in the addendum
4. Effective Date: Date when tenant change becomes effective
5. Transfer of Rights and Obligations: Terms of transfer from original to new tenant
6. Security Deposit Arrangements: Handling of existing deposit and new tenant arrangements
7. Signatures: Execution by all parties
1. Release of Original Tenant: Used when original tenant is to be fully released from all lease obligations
2. Continuing Liability: Terms defining any ongoing liability of original tenant after the change
3. Rent Proration: Breakdown of rent responsibilities between original and new tenant during transition period
1. Original Lease Agreement: Copy of the original lease being modified
2. Property Inspection Report: Documentation of property condition at time of tenant change
3. Security Deposit Receipt: Documentation of security deposit transfer or handling
4. New Tenant Application: Completed rental application and screening documents for new tenant
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