When creating a lease in Property Vista, you must select one of two lease types: New Lease or Current Lease.
New Lease
A New Lease is used when a tenant will be moving into a unit on a future date. This allows you to create the lease in advance and prepare for an upcoming move-in.
Current Lease
A Current Lease is used when the lease start date is in the past. This option is useful when:
- A tenant has already moved in, but the lease has not yet been entered into Property Vista.
- You have acquired a property and need to add its existing leases to Property Vista.
Important Considerations
After selecting the appropriate lease type, there are two additional items to consider: deposits and unit availability.
Deposits
The deposit type you select depends on whether the tenant has already paid their deposits.
- Current Lease – Legacy Deposits: If the tenant has already paid their deposits to the previous property manager, select the legacy deposit option. This records the deposits on the lease ledger without charging the tenant again.
- New Lease – New Deposit: If the tenant is moving in and needs to pay their deposits, select the new deposit option. This ensures the deposit is charged to the tenant.
Unit Availability
The unit's availability status should also reflect the type of lease being created:
- New Lease: Set the unit scope to Available.
- Current Lease: Set the unit scope to Pending.
Selecting the appropriate availability status helps ensure the unit is represented correctly during the lease creation process.