Rental Obj.Occupancy Stat shown as Reserved even after Lease Deed is closed

Hi All,
We r having a problem. Few of the rental objects occupancy status is going to "reserved" after the expiry of an existing lease deed. Normally it goes into Vacant. After going into reserved it is not allowing us to change it back to "Vacant" giving a message that this rental object has been reserved by the contract.
Rental object X is reserved by
contract ZZZ in period 29.06.2011-
28.06.2012
Where as the contract has been expired and concluded on 28.06.2011. Please help how to resolve this.

Hi,
Check the contract, is there any renewal rules assigned ???
In case if there is any automatic renewal rule exists, to reject this renewal, notice has to be given.
Automatic renewal rule : If notice was not given on the contract by this date, then the contract is automatically renewed up to the date in the "Renewal to" field.
regards,
Srini

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