Leaseholder Change Policy

Outlined below is the WC Smith Leaseholder Change Policy.

In order for your change of lease request to be processed, all the information noted below must be submitted at the same time to the Site/Community Manager. The stipulations for making a change in your lease as outlined in the policy remain in effect.

CHANGE OF LEASE REQUEST CHECKLIST

 Completed Notice of Intent to Change the Lease form (last page of this document) from all departing and remaining Tenants and Guarantor(s) (where applicable).
 Completed application* from each requested additional Tenant(s) and Guarantor(s)** and the supporting documentation listed below. The application can be obtained from the Site/Community Manager.

  1. Provide two current and consecutive pay stubs or two consecutive bank statements.
  2. Provide current picture ID.
  3. Pay $50 per applicant processing fee. The fee can be paid by check or money order payable to WC Smith.

 Once all the items listed above have been completed, please give to the Site/Community Manager.

*Credit will only be run on new Tenant(s) and Guarantor(s). If the additional Tenant(s) and/or Guarantor(s) do not qualify under our qualification guidelines, the entire household must qualify together. If new Tenant does not qualify, all of the remaining Tenants must reapply.

**As noted on the Guarantor application, in instances when the Guarantor cannot submit the application and supporting documentation in person, the application must be notarized.

We understand a Tenant’s situation can change. Our goal is to make the process to request a change in lease go as smoothly as possible for the departing and remaining Tenant(s) and any incoming Tenant(s).
Tenant(s) in this document refers to an individual(s) listed as a Leaseholder(s) on the lease.

Listed below is a breakdown of the fees and requirements:

  1. Leaseholder and/or Guarantor removal, no additions – $0
  2. Leaseholder and/or Guarantor change, additions – $50 (each new Tenant and/or new Guarantor).
  3. Each named additional Tenant(s) and/or Guarantor(s) must do the following*:
    1. Complete an application.
    2. Provide 2 current and consecutive pay stubs or two consecutive bank statements.
    3. Provide current picture ID.

*Credit will only be run on new Tenant(s) and Guarantor(s). If the additional Tenant(s) and/or Guarantor(s) do not qualify under our qualification guidelines, the entire household must qualify together. If new Tenant does not qualify, all of the remaining Tenants must reapply.

Stipulations for making a lease change:

  1. All rent must be PAID in full and must have a favorable rental history on current unit. No writs, no more than 1 summons, and no more than 4 late fees within the past year.
  2. All Tenants shall be liable for the rent and other charges until the change in lease request is approved and a new lease addendum is signed.
  3. When there is a Guarantor(s) already on the lease agreement and a request is made to add a Leaseholder, regardless of whether the requested Leaseholder has a Guarantor, the current Guarantor(s) understands they remain liable for any and all unmet financial responsibilities incurred by any Leaseholder(s) in the apartment.
  4. Please be advised the security deposit stays with the unit and is not refunded to anyone at the time the new lease addendum is signed. The security deposit is refunded to the remaining Tenants when the lease is terminated and all Tenants have vacated. The security deposit will be refunded as long as the refund conditions have been met and the rent is paid in full.

Steps to make a Leaseholder change:

  1. A Notice To Vacate from all existing Tenants and Guarantors(s) (where applicable). The Notice of Intent to Change the Lease form which is the last page of this document, should be used to submit the change in lease request.
  2. The remaining Tenant(s) and Guarantor(s) (where applicable) are authorizing a change in lease understanding the unit will remain in “As Is” condition and requesting the addition and/or removal of Tenant(s) and Guarantor(s) (where applicable).
  3. Each requested additional Tenant(s) and Guarantor(s) must do the following:
    1. Complete an application.
    2. Provide two current and consecutive pay stubs or two consecutive bank statements.
    3. Provide current picture ID.
    4. Pay $50 per applicant processing fee.
  4. Once the change in lease is approved or denied, an email will be sent to all parties notifying them of the status on the request and the following is required:
    1. Acceptance of the new lease addendum at the new rent amount (if applicable) and lease start date from the new Tenant(s). A new rent amount would apply if a rent increase was last taken more than 12 months prior.
    2. All existing and new Leaseholder(s) and Guarantor(s) will need to sign the new lease addendum.

The lease obligation is not released for all departing Tenant(s) and Guarantor(s) until a new lease addendum is signed.

Change in lease request due to birth of a child (lead testing may be needed) or addition of a child 17 years of age or younger.

  • Request submitted by Leaseholder to add child to Site/Community Manager
  • Name of child
  • Date of birth
  • Child’s social security number

FREQUENTLY ASKED QUESTIONS

Can a departing Tenant move out prior to the request being approved? The Tenant can decide when to move out, however, all Tenants and Guarantors (where applicable) shall be liable for the rent and other charges until the change in lease request is approved and a new lease addendum is signed.

What happens if the requested additional Tenants have not completed an application? The change in lease request will be processed only when all the information has been received and completed in full.

What is a Guarantor? A Guarantor is an individual who is financially obligated on an apartment lease but is not living in the apartment.

Download Notice of Intent to Change Lease Form »