New Lease vs. Current Lease

When we create a Lease in Property Vista, it will be one of two types - a New Lease or a Current Lease


New Leases are for Tenants who will be moving-in on a future date. New Leases will allow us to Create our Leases in preparation for Tenants we know will join us on a pre-determined date. 

Current Leases allow us the enter a Lease which has a start date in the past. They can be helpful when our day to day responsibilities prevent us from actually sitting down and entering the Lease in Property Vista, or if we have acquired a new Property and want to add it's Leases into Property Vista.


There are a few things to keep in mind after we have decided whether to use a New or Current Lease - Mainly Deposits and individual Unit Availability


Whether the Tenant lives with you already, or is moving in the future obviously affects the nature of Deposits. If we are entering a Current Lease, and this Tenant has already paid Deposits to the previous Property Manager, we will want to select Legacy Deposits to avoid actually charging the Tenant. This will ensure the Lease Ledger is accurate. If we are entering a New Lease, we'll want to ensure we use the Deposit type 'New Deposit' so the Tenant is actually charged.


Individual Unit availability is also Important to keep in mind. When Creating a New Lease, we would want to ensure the Unit Scope is set to Available. When creating a Current Lease, we will want so ensure the Unit Scope is set to Pending 

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