Ending a Lease
All the scenarios you might encounter when ending a lease
Samuel Huang avatar
Written by Samuel Huang
Updated over a week ago

Overview

When ending a lease, there are multiple scenarios to consider. You might want to withhold a deposit for charges, refund all or part of a deposit, or end the lease with an outstanding balance.

The Steps

Note that once a lease is ended, there is no way to reactivate it. However, you can still edit and add transactions later if needed.

  1. On the main menu click Leasing and then click Active Leases.

  2. Click on the lease you want to end.

  3. Once in the lease Overview tab, click on the blue circle with three vertical dots in the top right corner and select End Lease.

    Alternatively, you can click on the Not Renewing button in the Renewal Process section. Enter the relevant information—which is optional—clicking Save when finished. This allows you to click the End Lease button in the same section after entering the non-renewal.

  4. Once in the End Lease wizard, enter the required Move-out date (entering a Notice Date and uploading files is optional) and click Next.

    The Move-out date will become the new lease end date and tenant portal access will immediately end for all tenants on this lease.

  5. The third step will be different depending on which scenarios apply to the lease. You can potentially use all three scenarios on a single lease.


Scenario 1: No outstanding balance and no deposit to refund

In the Lease Balance summary, you will see that the Lease Outstanding Balance and Deposits Held are $0.00. Click Finish to finalize ending the lease.


Scenario 2: Withholding deposits for charges

  • In the Lease Balance summary, you will see the Lease Outstanding Balance and Deposits Held amounts. In the Actions section, use the Withhold Deposit button to pay the outstanding balance using a deposit.

  • In the Withhold Deposit pane, specify the Amount to Withhold from each deposit and an optional Description, then click Save.

  • Back in the Lease Balance summary, if you see that the Lease Outstanding Balance and Deposits Held are $0.00, you can click Finish to finalize ending the lease.

If there is still deposit money to refund, proceed to Scenario 3.

If there is still an outstanding balance or deposit and you want to end the lease anyway, proceed to Scenario 4.


Scenario 3: Refunding a deposit

  • In the Lease Balance summary, you will see the amount of Deposits Held.

  • In the Actions section, use the Refund Deposit button to record that you paid a deposit back to the tenant.

  • In the Refund Deposit pane, select the Tenant you are paying, the date you paid for the Due Date, the bank account you paid from for Pay From Account, and the Payment method.

  • Enter in the Amount to Refund and an optional Description, clicking Save when done.

  • Back in the Lease Balance summary, if you see that the Lease Outstanding Balance and Deposits Held are $0.00, you can click Finish to finalize ending the lease.

If there is still an outstanding balance or deposit and you want to end the lease anyway, proceed to Scenario 4.


Scenario 4: Ending a lease with an outstanding balance

  • If you want to end a lease despite having an outstanding balance or deposits held, click the End Lease Anyway button.

  • Later, you can still find the lease to address the outstanding balance or deposits.

The article on withholding or refunding lease deposits after ending a lease explains specifically how to deal with deposits.

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