The form located at the bottom of the page is used to replace an existing tenant with a new tenant. Please read it carefully. When a new tenant is added to 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 Exiting Tenant Must Do:

1. Make sure that you inspect the property. This will help you and the new tenant determine a fair transfer of the security
deposit.

2. Notify the new tenant that he/she MUST call the office at 888-356-0088 so that they can give us their
name, email address and phone number, for us to send them an online application.
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.

3. The new tenant and all current tenant(s) must sign on page 3 of this form.

4. Fill out page 2 of this form. This is to document any security deposit transfer between you and the
new tenant. All current tenant(s) must sign. The new tenant must fill out the bottom section. The new tenant is to
pay their portion of the security deposit directly to the current tenant(s). 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. (See page 3 for more information regarding security deposits.)

5. Submit the completed and signed form to our office and pay a $150 processing fee (check or money order only) to
Philadelphia Real Estate. No paperwork will be processed until this fee is paid. No cash accepted.

What the New Tenant Must Do:

1. Call the office and give us your name, email address and phone number so we can send an online application. There is a $50 nonrefundable application fee. Fill out the rental application completely and submit it online. Any application that is not completed will not be processed. If you are a student applicant, you must have a co-signer. Please notify us with the name, email address and phone number of your co-signer. All co-signers must fill out an online application. There is a $50 nonrefundable application fee.

2.  Please submit all information about your income and identification when filling out the application. Any missing
information only delays your application. Once the information is reviewed, we will notify you if you qualify for the property.

3. Pay security deposit to vacating tenant.

4. Fill out the bottom section of page 3 of this form. This is to document any security deposit transfer between you and the current tenant(s). You are to pay your portion of the security deposit directly to the current tenant(s). 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.

Download the form below: