Subleasing

SUBLEASING

You may add someone to your lease, though subleasing is not permitted.

HOW TO ADD AN ADDITIONAL OCCUPANT:

You may add an additional occupant to your lease who will essentially reside in the house while you are away. In this option, you are NOT released from the lease.

All persons on the lease are still severally liable for the full rent each month until the end of the term of the lease, including your new occupant-you must make arrangements amongst yourselves regarding payment of rent. If your new occupant does not pay rent, you and all other tenants on the lease are still responsible.

STEP ONE: Submit Applications

Your new occupant must follow the same application process as you did and must be approved by NOVA before they can sign addendum to move in:

• Your New Occupant must submit a Tenant application (you can request the link to apply from NOVA).

• Your New Occupant's co-signer must submit a Guarantor Application (you can request the link to apply from NOVA

• Your New Occupant must submit a notarized Continuing Guarantee signed by their co-signer.

STEP TWO: Pay Fees and New Occupant Security Deposit

• There is a $300 "change in terms" fee which will appear in your tenant ledger (you can determine who and how the fee will be paid among yourselves).

• New Occupant must pay a Security Deposit (payment can be made in person or via online portal).

STEP THREE: Sign New Occupant Addendum

• New Occupant, along with all current roommates, must sign New Occupant Addendum to the lease before moving in.

Security Deposit Return:

• All tenants will receive the Security Deposit return at the end of the lease.

• The Security Deposit will be returned in one lump sum by check made out to ALL tenants at once.

• You may request individual security deposit return checks made out to individual tenants.

• A cost of $50 for each check will be charged.

NOVA does NOT allow or permit any Sub-leasing of any kind.