Domi Vera

End a lease and settle the deposit

Work through the final invoice, deposit settlement and move-out statement, and free the unit.

Start: the lease, Lease tab Result: a settled deposit, a final statement, and a free unit.

Ending is a workflow, not a status change. Work through it in order.

Draft Active Ended occupation date vacation date nothing is billed deposit collected invoices generated interest accrues deposit settled unit freed first month pro-rata final month pro-rata
A lease is prepared as a draft, becomes active when the tenant takes occupation, and ends with a deposit settlement that frees the unit.

Before you start

Generate the final month’s invoice first. Ending the lease settles interest to the move-out date, and it needs the final charges to be on the account already.

If the lease has metered charges, capture the closing readings before generating that invoice.

Steps

  1. Open the lease and choose to end it.
  2. Record the vacation date - when the tenant physically moved out.
  3. Choose the End reason.
  4. Choose how the final period’s rent is treated - full month, or pro-rata to the vacation date.
  5. Work through the deposit settlement: the deposit held, less arrears pulled from the account automatically, less any deductions you enter.
  6. Complete it.

What you get

A formal deposit-settlement document, a final move-out statement, interest crystallised to the move-out date, and the unit freed for the next lease.

Itemise every deduction. A deposit dispute is the most common thing a tenant escalates, and an itemised settlement drawing arrears from the actual account is the document that ends the argument.

Once the final statement is issued, that period’s interest is locked. Check it before you send - see interest.

Related

  • LeasesThe agreement tying a tenant to a unit for a period, at a rent. It is what billing actually runs from.
  • DepositsMoney held against a lease, not income. It is tracked separately and settled when the lease ends.
  • StatementsA running account over time — everything charged, everything paid, and the balance. An invoice is one entry on it.
  • How late-payment interest worksInterest is worked out automatically, stays editable while it is provisional, and locks in when you send the statement.