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An add or remove a tenant lease amendment allows for the legal addition or removal of a tenant from a rental agreement. The video clarifies the difference between an addendum and an amendment: an addendum is attached to the lease at signing, while an amendment is a modification made later. Common reasons for amending a lease include changes in roommates or relationship status. It emphasizes the importance of using an official template for these amendments, ensuring clarity and legality in the rental agreement process. Overall, the video serves as a guide on the key aspects of lease amendments related to adding or removing tenants.