Our lease assumption process involves full lease assumptions, individual roommate assumptions, roommate removals and roommate additions. Please read the instructions and information below carefully before proceeding.
General Information
You are responsible for finding new tenant(s) to take over your lease or portion of your lease. You will need to advertise and show your rental. When you have found a party that is interested in applying for your rental they must fill out applications, be screened and approved before they can move-in. We will only screen one interested party at a time.
Security Deposit: your security deposit is held in the property trust account and we cannot release it. Incoming residents will pay outgoing residents their portion of the deposit. The amount paid is to be settled between the two parties. The original security deposit remains with the lease until the actual lease ends and is then refunded to whomever is on the rental agreement at that time.
Please note: Blue Oak Property Management does not clean the carpets, provide janitorial cleaning or any other services normally associated with a “new move-in”. New residents are assuming current condition of property and terms of existing lease agreement.
Lease Paperwork: All current tenant(s) must agree to the new tenant(s) taking over the rental agreement. When new tenants/cosigners are approved by us we will email out the lease assumption forms. These forms will be signed electronically online. *Please note: these forms need to be signed by ALL current and future residents.
Admin Fee: an administrative fee needs to be paid to finalize the lease assumption. The fees for each are as follows:
- Full lease assumption: $300 to $600
- Roommate assumption: $150 to $300 per tenant added
- Roommate removal only: $150 to $300 per tenant removed
- Roommate addition only: $150 to $300 per tenant added
Begin the Lease Assumption Process:
Start the lease assumption process by completing the form below. This form must be filled out for all lease assumption requests.
For all roommate assumptions, roommate additions and roommate removals please fill out the form below separately for each tenant.
This form is required before we begin the lease assumption or roommate removal/addition process.