To help our tenants whose circumstances are that they will be not be staying at the apartment for all or part of the lease term and would like to transfer their rights to use the apartment to someone else during that time period, we offer a Assignment Agreement.
The assignee (new person to take over for an individual tenant) will need to Apply for an apartment. After our approval of assignee’s application we will provide an Assignment Agreement (pdf) that will need to be completed and signed by all tenants and assignee. The assignment agreement requires a $60 fee payment.
Remember to discuss & coordinated between all tenants and assignee for managing the security deposit, last month’s rent (if applicable), any utility bills (if applicable) & parking permit (if applicable) within your group.
The full security deposit was paid at lease signing and will be held until the end of the lease. Any changes of individual responsibility within the group, as well as potential deductions, will need to be managed within the group (i.e. assignee pays their share to assignor).
If you currently occupy the apartment:
- last month’s (May, the last month of the lease) rent was paid before move-in and will need to be managed within the group (i.e. assignee pays their share to assignor).
- Consideration should be given to any of the apartment’s outstanding utility bills.
- If the assignee requires a parking permit, assignor’s permit will need to be moved to assignee’s vehicle and assignee will need to register their vehicle by completing the Vehicle Registration section of the Tenant Info Update form.