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An add or remove a tenant lease amendment is a document that legally allows a tenant to be added to or removed from a lease. The key points outlined in the video tutorial include the difference between an addendum and an amendment, common situations for adding or removing a tenant, and how to go about making these changes. An addendum is attached to an original lease at the beginning, while an amendment is made to the lease at a later date. Situations where tenants may need to be added or removed often arise when roommates change, couples move in together, or relationships end. The video also mentions where to find an official template for creating these lease amendments.