What is Tenant substitute replacement?
Answer:
Some tenants may offer to find a replacement tenant to rent the unit in an effort to facilitate negotiations or help reduce the time the unit will be vacant and therefore reduce the current tenant’s debt. While this may be of benefit to some landlords in some markets, it is the landlord’s decision to accept the tenant’s offer of help conditioned upon the replacement qualifying under the landlord’s standard rental practices, including application, screening, and selection procedures. The landlord will sign a new lease with the new tenant and a termination agreement with the old tenant to release the old tenant from the lease agreement.