Roommate from Hell

[AtlBrvs4Life]

Here's the situation. I currently live in a college apartment with three other guys. Two of them I get along with fine and are good roommates. The third is my dorm roommate from freshman year who has just followed me along. All three of us can't stand living with him for multiple reasons:

-He never cleans his dishes unless told to.
-He never helps clean the apartment.
-He rarely throws money down for apartment supplies.
-He drinks our liquor/beer and never buys any for the apartment.
-He is extremely loud and annoying during the day and early evening, but once he goes to sleep, he expects us all to be quiet and gets pissed if we're making noise or watching TV in the living room.
-He bought a lathe, and without asking anybody, placed it in the living room. When told that's not going to fly, he said he already bought it and has nowhere else to put it.
-He totally disrespects me because I don't have a 'real' job and I just sit at home and play poker for money. Of course I make 20x as much as him doing this and I sense jealousy there.
-He just isn't a fun person to hang out with and is somewhat uptight.

My other two rm's know a friend from back home that is transferring up to our school and needs a place to stay. I've met him before and he seemed like a cool guy. They tell me he will be a MUCH better rm. Our lease here ends very soon, but we STUPIDLY all signed for another year.

What should we do? If we move out, we have to pay a cancellation fee and find another place. I don't believe we have the authority to just give him the boot from the apartment. Does anyone know anything about this? We could just break this all to him and tell him none of us want him around anymore. This option would not be fun but is doable. Any other options OOT can think of?