A: Changing names on a Lease Agreement can be quite an involved procedure.
This is known as transferring or assigning the lease agreement.
When a transferring or assigning the lease agreement takes place, an existing tenant or tenants are transferring, adding, or assigning the lease agreement to another.
The tenant or tenants are inviting someone to be added to or to take on the lease agreement responsibilities.
The existing agreement, including any remaining fixed-term period and the rent payable, is transferred to the new tenant or co-tenant.
It requires a completed application form from the new tenant, approval from the property owner, then a new lease agreement to be signed by all parties.
The steps in the process are
1. Send an email to Fusion Realty stating your wish to add or remove a name from the agreement lease. If you give a reason, this will make your case stronger.
If someone is adding their name to the lease, they need to submit a tenancy application.
In your email, please request an application link.
2. When the email and application are received, the property manager will then contact the property owner to make the requested changes on your behalf.
3. The property manager shall contact the existing tenants about the changes, and if approved, the property manager will make an appointment time for the documentation for all tenants to sign.
Points to consider and remember.
Approval for transferring or assigning the lease agreement is up to the property owner’s discretion.
If you do not give a valid reason for the change, it may not be approved.
The property owner and or the agent can charge a lease fee of $66
The tenant/s remaining at the property assume full responsibility for the lease and the property’s condition at the end of the lease.