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An add or remove a tenant lease amendment allows for the legal addition or removal of a tenant from a lease agreement. The video clarifies the difference between an addendum, which is attached to the lease at signing, and an amendment, which alters the lease later. Common scenarios for lease amendments arise when roommates change, couples move in together, or in the case of breakups. The tutorial emphasizes understanding these terms and provides information on where to obtain an official template for drafting such amendments. It highlights the importance of documenting these changes to ensure clarity in rental agreements.