Lease signed

Glossary

Lease signed means the rental agreement is fully executed, allowing teams to count the unit as leased and begin move-in workflows.

Definition

A lease signed status means the rental agreement has been executed by the required parties and the lease package is complete. In multifamily operations, this typically comes after application approval and before move-in preparation. A signed lease can make a unit count as leased even if the resident has not moved in yet.

Example

A prospect is approved for Unit 214, signs the lease and required addenda online, and the authorized property representative countersigns. The team updates the system of record to Executed Lease, which triggers move-in tasks such as payment verification, insurance confirmation, access setup, and make-ready coordination.

Why It Matters?

Lease signed is a key handoff point between leasing, operations, accounting, and maintenance. It helps leaders track leasing velocity, leased percentage, future occupancy, and whether downstream move-in work is starting on time. Clean execution also supports audit readiness and reduces disputes about rent, dates, concessions, or missing documents.

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