A Change of Shared Tenancy is where the tenants’ names on a lease agreement are changed due to tenants moving out and/or moving in. This can occur for any number of tenants moving, as long as at least one of the original tenants remains on the lease.
Changing names on a Lease Agreement can be quite an involved procedure. It requires documentation to be signed by all parties, as well as the approval from the Owner of the property. The procedure essentially entails transferring the responsibility of the tenancy from one or more tenants to another.
How does the Process work?
- You advise your Property Manager in writing (email is best) that you wish to remove a name from and/or add a name to the lease. If you could 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 Form at the same time.
- Your Property Manager will then contact the Owner to make the request on your behalf.
- If approved, your Property Manager will send out documentation for all tenants to sign and return.
- Where possible, it is advisable for all tenants to make an appointment to come into the office and sign the paperwork together.
SOME POINTS TO REMEMBER
– Approval for a change to a shared tenancy is at the Owner’s discretion. If you do not give a valid reason for the change, it may not be approved.
– The tenant/s remaining at the property assume full responsibility for the lease and the condition of the property at the end of the lease.
– If part of the Bond is in the name of one of the Tenants leaving, we can have you sign a new Bond form; HOWEVER, it is up to the Tenants to arrange transfer of moneys between them.