Lease Transfers

We strive to make lease transfers fully stress and hassle free. With our quick and easy process transferring out of a lease has never been easier. So what is a lease transfer?

A lease transfer firstly occurs when an individual on the lease agreement for whatever reason can no longer live in the household. In order to leave said agreement they can execute what's called a "lease transfer".

Step 1: Find a Replacement Tenant

The outgoing tenant is responsible for finding a qualified replacement. This can be done by advertising the space on Facebook, Instagram, Snapchat, or any other platform where potential tenants may be looking for housing.

Step 2: Have the Replacement Apply

Once a replacement tenant has been found, they must complete an application on our website at playalifeiv.com.

After the application has been submitted, the outgoing tenant must complete the Lease Transfer Submission Form below. Please make sure all details are entered correctly so management can begin preparing the Assignment of Lease document.

Step 3: Pay the Lease Transfer Fee

Before submitting the lease transfer form, the outgoing tenant must pay the $300 lease transfer fee.

Please note: lease transfer documents will not be drafted until this fee has been paid.

Step 4: Wait for the Lease Transfer Document to Be Completed

Once the application, submission form, and lease transfer fee have been received, management will begin preparing the lease transfer documentation.

The Assignment of Lease document requires consent and signatures from all required parties, including:

• All current housemates
• The incoming tenant
• The outgoing tenant
• Management

The lease transfer is not complete until all required signatures have been collected.

Step 5: Confirm Reimbursement and Finalize the Transfer

After the lease transfer document has been fully signed, the incoming tenant must reimburse the outgoing tenant for their portion of the security deposit previously paid to Playa Life IV.

If any June rent or prepaid rent applies, that amount must also be handled between the incoming and outgoing tenant.

Once reimbursement has been completed, a screenshot or proof of the transaction must be uploaded to management for confirmation.

After management has confirmed the signed lease transfer document and reimbursement proof, the outgoing tenant will be removed from their lease obligation, and the incoming tenant will officially be added to the lease.

Lease Additions

Lease additions are the best way to add your friends onto an existing lease agreement. Now, what is a lease addition you ask?

A lease addition is a simple, hassle free process to add anyone onto an already existing lease agreement which has been countersigned and marked fully executed. The steps to complete a lease addition are as follows:

1. The new addition will fill out an application on our website. Once completed, we will screen and if approved, a DocuSign of our lease will be sent to the email given on the application.

2. Once signed we will send an activation link to their email to setup a portal account.

All lease additions need to be approved by a member of the house, this can be via email, text, or over the phone.