What are the different lease statuses?
There are three (3) types of lease statuses in Pendo:
An active lease in Pendo means the unit/home is tenanted and the lease term is set to annual/month to month or is on a fixed term with a proposed/set end date.
Note: If you need to change terms of an existing lease or add/remove a tenant – you can create an addendum. To learn how, click here.
An expired lease occurs when a fixed term has ended and per the lease terms – the tenant must move out.
A terminated lease occurs after a tenant has given notice or the landlord has issued an eviction notice. This state must be manually created by the Landlord/Property Management company to indicate when the unit/home will be vacant in order to create a new lease for future tenants. To learn how to terminate a lease, click here.
- Not all provinces/states require a new lease to be signed unless legislation requires it. Most annual leases will covert to a month to month after the initial term ends.
- For leases associated with a PendoPay transaction for recurring rent, an expiry or terminated lease will cancel future payments. If the lease is renewed, you are required to set up PendoPay transactions for the new lease.
- Terminating a lease does not delete it from the Pendo platform, the lease information is available to you at any time.
In the event you have made an error with information or terms of a lease and all parties have not signed it, you can delete it. If you discover an error in a fully executed (signed by all parties), you cannot delete it. You can terminate the lease and start over. If you have any questions, contact Customer Support via Live Chat.