There is information you need to know when you are a current tenant that wants to vacate during a lease and a new resident will be replacing you or moving in. Read below:
There is a $100 fee charged when there is a change of resident for the paperwork and processing that has to be done. That will be charged to the tenant ledger, so you will need to workout that payment.
First step: The prospective new resident will need to complete an application and pay the application fee. Here is the application: https://app.propertyware.com/pw/portals/nestwell/tenantApplication.action
You need to notify our team who is applying and which property they are applying for. Email this info to firstname.lastname@example.org
The applications processing team will work with the applicant to make sure they have all the required information and then complete processing it.
Second: Once approved, we will need to complete new rental paperwork that will add the new resident to the lease and remove the vacating resident's name. These documents are sent out through DocuSign and can be reviewed and signed electronically by each resident.
Important: There is no security deposit refund in a resident exchange. The full deposit stays with the rental agreement contract. It is up to the current residents, vacating resident, and the new resident as to how they will handle that. When the end of the rental agreement does come, any security deposit refund is done in a check payable to all of the current residents that are named on the lease.
The new and incoming resident is agreeing to take on equal responsibility for the condition of the home as established at the time the original rental agreement was signed with the residents. The current tenants also understand they are removing any responsibility from the resident that is vacating as they will no longer be on any of the leasing paperwork.
Please let us know if you have any other questions.