NEEBE REAL ESTATE
1002 Highland Woods Road
Chapel Hill, NC 27517
Office: (919) 967-1554
Fax: (919) 929-9393
CHANGE OF TENANT FORM
A $150 Processing Fee Required
Understanding the "Change of Tenant" Process
When a new tenant replaces a tenant listed on an existing lease they are now legally responsible for the terms of the lease along with the
current tenants. Please be aware that security deposit refunds are dispersed in equal amounts to all tenants named on the lease.
What the Current Tenant Must Do:
1. Make sure that you have a copy of the “Move-In Inspection Form” that you and/or your roommates completed within 10 days of taking
possession of the unit. This form lists any existing damage to the property. This will help you and the new tenant determine a fair transfer
of the security deposit.
2. Ensure you have a copy of the Residential Rental Contract to provide to the tenant replacing you.
3. Notify the new tenant that he/she MUST submit an application to our office in order to move into the rental property. There are no
exceptions, and you can’t do this for him/her. The new tenant must apply and must be approved before moving into the rental property.
4. The new tenant and all current tenant(s) must sign on page 2 of this form. The new tenant is to pay their portion of the security
deposit directly to
. This is the only way to get your security deposit back.
ou will receive
5. Submit the completed and signed form to our office by Fax, Email or Post and pay a $150 processing fee (check or money order only) to
Neebe Real Estate. No paperwork will be processed until this fee is paid. No cash accepted.
6. If the utilities are in your name, arrange with the new tenant (or with someone else living in the house) to have the utilities
changed into their name ensuring that no lapse in utility service occurs and/or that utility service continue in past tenants name.
Please recognize that failure to do so will result in
What the New Tenant Must Do:
1. You MUST fill out a rental application for the property. You must also pay the $40 application fee.
2. You must complete a “Parental/Guardian Guarantee” form if you are an undergraduate student or if we so require. The form is available
online at .
3. You and all current tenant(s) must sign on page 2 of this form.
4. Make sure you receive a copy of the existing “Move-In Inspection” form for the property from the current tenant(s). This form was filled
out by the current tenant(s) when they moved in, and it listed any damage to the unit noted at that time. This will help you and the tenant
you are replacing to determine a fair transfer of the security deposit. You are to pay your portion of the security deposit directly to the
tenant you are replacing. When you move out the security deposit will be returned in equal parts to all residents named on the lease
directly from our office. There are no exceptions to this policy.
5. Ensure the $150 processing fee and $40 application fee have been paid and all forms submitted to our office.
6. Once we have approved your application you must make an appointment to in order to review the lease and conditions
about your responsibilities as a tenant, and your rights and obligations under your lease. This appointment is in your best interests
and is for your protection!
7. You must arrange with the tenant you are replacing (or with someone else living in the house) to have the utilities changed into
your name ensuring that no lapse in utility service occurs. A lapse in utility service will result in a $100 administrative charge
to your account.
Understanding Security Deposit Transfers
When the current tenant(s) moved into the rental property, they paid a security deposit directly to Neebe Real Estate. That security
deposit is for the entire property, not specific bedrooms within the property. Therefore, it is our responsibility to hold one complete deposit
for one whole property. The NC Real Estate Commission requires this of us.
When a tenant is replaced on an existing lease before the lease period expires, the new tenant must pay a security deposit.
However, they pay it directly to Neebe Real Estate, allowing us to refund the prior tenant's security depost. (Assuming no damages) When the lease
period is up and all tenants move out of the unit, the tenants on the lease at that time will be refunded their portion of the security deposit; remember
the security deposit will be dispersed in equal parts to all tenant(s). This will come from our office, and will be returned to you within 30 days
of receipt of your keys to the property, or the end date of your lease, which ever is later.
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