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An add or remove a tenant lease amendment is a document that modifies a rental agreement to legally add or remove a tenant from a lease. The video clarifies the difference between an addendum, which is attached when a lease is first signed, and an amendment, which is applied later. Common scenarios for needing a lease amendment include changes in roommate arrangements, couples moving in together, or breakups. The video also provides guidance on obtaining an official template for such amendments. Understanding these concepts is crucial for managing rental agreements effectively.