The add/drop process is not complete until the lease amendment (Add/Drop Form) is signed by all parties (co-signers, all tenants- adding, dropping, and remaining). The Add/Drop form is available at MPM.
Lease changes (add/drops) are not recommended by MPM and are discouraged (although necessary at times), as they can be complicated and pose risk/liability to parties involved.
- Adding Tenant(s) must apply.
- After the first application is approved, the Tenant(s) will have 14 DAYS to complete the add/drop process. If the requirements are not met within the 14-day period, the add/drop process will be canceled.
- The lease amendment form must be signed by all parties, incoming and outgoing, as well as any remaining co-signers.
- DO NOT shut off the utilities. The new incoming tenant(s) may transfer the utilities into their name once the updated rental agreement has been signed.
- The add/drop fee of $350.00 must be paid in full. This fee will cover actual expenses for the following:
- Lease preparation and signing
- Accounting services
- Correspondence/coordinating with all parties involved
- Add/Drop inspection
- Updated Property Condition Report
- Maintenance Coordination (as needed)
- Tenant file setup
- No charge if completed within the first 30 days of the initial lease term or 30 days prior to the expiration of the initial term.
- NOTE: One original party to the Lease Agreement must remain or add/drop/lease change will be denied.
All payments to MPM are non-refundable. This includes cancellations or terminations of the add/drop process.
- Carpets were cleaned before move-in. Carpets must be restored to the same condition and cleanliness
- IMPORTANT: Security Deposit refund, key transfer, and rent proration between parties are the responsibility of the existing and adding tenants. At the final termination of the lease agreement, the security deposit funds held by MPM will be refunded in one check to all parties named on the current lease agreement. MPM will not release Security Deposits funds prior to final termination
- Tenant(s) adding to the lease agreement will receive a copy of the original property condition report, which was given to the initial tenants upon move-in. Adding tenant(s) must note any damages (not previously noted) before MPM inspects the property. Please highlight new notes, so MPM can distinguish adding tenant(s) notes from existing tenant notes. Any cleaning issues should be noted in a separate document
- Once the property condition report is returned, the tenant must schedule an inspection date with MPM
- Disclaimer: MPM will conduct the add/drop inspection to the best of our abilities, however, it is difficult to thoroughly assess the condition of a property, while still occupied. The incoming parties will be liable for damages/cleaning (not noted on the original PCR), which may have existed prior to their tenancy, but were unable to be determined during the add/drop inspection
- After an inspection is performed, any maintenance or cleaning must be completed. Tenants will have 14 days to complete any required maintenance or cleaning. If damages/maintenance is required, MPM will have repairs made at the tenant’s expense. Any tenant charges incurred must be paid in full to proceed with the add/drop process
- The tenant’s account must be in good standing ($0.00 balance) before the add/drop can be finalized and a new lease drafted
- The Add/Drop Form and new lease agreement will be sent electronically for all parties to sign
- Renter’s Insurance is required; therefore, proof of a current policy must be provided. The policy must include $100,000 in liability coverage, as well as, Missoula Property Management LLC, must be listed as an Additional Interest
- Remaining/departing tenants are still obligated to perform under the terms of the Lease Agreement- This includes, but is not limited to rent, utilities, lawn care, snow removal, maintenance, etc. until the new rental agreement is signed by all parties
- Once the add/drop process is complete and a new lease agreement has been signed, remaining and new tenants assume full and equal responsibility for payment of rent, the condition of the property, and the terms of the rental agreement
- Please be advised, MPM allows only ONE add/drop lease change per lease term
IMPORTANT: Adding tenant(s) may not reside at the property until the new lease is signed by all remaining tenants, adding tenants and co-signers (if applicable). If the adding tenant(s) occupy the premises prior to signing the new rental agreement, the tenant(s) will be considered unauthorized and are subject to a lease violation and fine.
