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An add or remove a tenant lease amendment is a legal document used to modify a rental agreement by either adding or removing a tenant. The video clarifies the difference between an addendum and an amendment: an addendum is attached when the lease is first signed, while an amendment changes the lease after the tenant has moved in. Common reasons for these changes include the arrival or departure of roommates, couples moving in together, or breakups. The video also discusses the importance of having an official template for creating these lease amendments.