Lease Statuses and Meanings:
Draft- You are currently in the editing mode, and haven't sent this lease off for signatures yet. Before sending the lease, please make sure each tenant has a separate and unique email address attached to the lease.
Tenants Signing- This lease is waiting to be signed by the tenants in their Avail account.
Landlord Signing- This lease is waiting to be signed by the landlord. Once the tenants have signed the lease, the landlord is notified that they can log into their account to sign and finalize the lease.
Finalized- This is a legally binding lease, meaning both parties Landlord and Tenant have signed. You can't edit the lease at this point.
Renewal Period- The lease transitions into the Renewal Period 90 days before the end date on the lease. This is a good time to start discussing lease renewal with your current tenant(s) or start the re-advertising process on the unit.
Month-to-Month- Once the lease had ended, you and your tenants can elect to go on a month-to-month status meaning the lease rolls onto the next month until the tenant gives a 30 day notice of vacating. If you have charges created with Rentalutions we automatically create a new charge after the month prior has been paid in full.
Expired- The lease term has ended, therefore the lease is no longer active. You are still able to access this lease for reference. Once it is expired you can't renew the lease and the best course of action is to start a new lease.