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What is a Roommate Release Agreement?
If the roommates are currently under a lease, the agreement will most likely require the approval and signature of the landlord. Typically the landlord will need to approve the agreement in order to make sure the subtenant or remaining tenants are financially capable of paying the full rent. In any case, make sure to check your lease or rental agreement for any specific instruction on how to properly handle the situation.
When to use a Roommate Release Agreement:
- You're a roomate and are moving out but the rest of your roommates are not.
- You're a roommate and one of your roommates is moving out and you have agreed to remove them from any liability for the remainder of the lease.