--- title: Understand the Rental Job Lifecycle and Statuses description: "## Overview A rental job moves through a series of stages from initial planning to final return and closure. Its status tells users where the job is in that lifecycle and what action may be required next. Accurate statuses help…" url: "https://help.assetiq.sg/docs/understand-the-rental-job-lifecycle-and-statuses/" updated: "2026-09-01" category: Rental Management --- # Understand the Rental Job Lifecycle and Statuses ## Overview A rental job moves through a series of stages from initial planning to final return and closure. Its status tells users where the job is in that lifecycle and what action may be required next. Accurate statuses help AssetIQ users understand whether assets are planned, allocated, dispatched, active, overdue, returned or available for further work. The exact statuses and available transitions depend on your organisation’s AssetIQ configuration. > **Important:** A status should represent what has actually happened. Do not mark an asset as dispatched before it leaves your control or returned before it has been physically received. ## What is the rental job lifecycle? The rental job lifecycle is the sequence of activities used to manage a rental from creation through completion. A typical lifecycle includes: 1. Create the rental job 2. Enter the recipient, location and rental dates 3. Add and allocate assets 4. Check asset availability 5. Confirm the rental 6. Prepare the assets 7. Dispatch the assets 8. Manage the active rental 9. Extend or update the rental if required 10. Receive and inspect returned assets 11. Record damage, missing items or follow-up work 12. Close the rental job Not every organisation uses every stage, and the status names shown in your AssetIQ environment may be different. ## Why statuses are important Accurate rental statuses help users: - Understand the current stage of each job - Identify rentals requiring action - Determine whether assets have been dispatched - Monitor planned and overdue returns - Recognise partially returned jobs - Prevent premature asset reallocation - Coordinate operations and maintenance - Maintain accurate asset history - Produce reliable rental reports - Distinguish active work from completed or cancelled jobs Incorrect statuses can cause asset conflicts, missed returns and unreliable reporting. ## Typical rental-job statuses The following table shows common lifecycle stages. These are general examples rather than a guaranteed list of AssetIQ options. | Status | General meaning | Typical next action | | --- | --- | --- | | Draft | The rental job is being prepared and is not yet confirmed | Complete details and add assets | | Pending | The rental requires review, approval or additional information | Review and confirm the job | | Confirmed | The rental has been accepted and its assets are planned | Prepare assets for dispatch | | Scheduled | The job is planned for a future rental period | Monitor dates and prepare assets | | Ready for Dispatch | Required preparation has been completed | Verify and dispatch the assets | | Dispatched | One or more assets have left your control | Confirm the rental has started | | Active | The rental is underway | Monitor use and planned return | | Partially Returned | Some, but not all, expected assets have returned | Follow up on outstanding items | | Overdue | One or more assets remain out beyond their planned return date | Contact the responsible party and update the job | | Returned | All expected assets have been received | Complete condition checks and follow-up | | Completed | Rental processing and required close-out activities are finished | Retain the record as history | | Cancelled | The rental will not proceed | Record the reason and release allocations | Use the exact status names and meanings defined by your organisation. ## A typical lifecycle A straightforward rental may follow this sequence: | Stage | Rental status | What is happening | | --- | --- | --- | | Planning | Draft | Job details are entered | | Allocation | Pending or Confirmed | Assets are selected and availability is checked | | Preparation | Scheduled or Ready for Dispatch | Assets are prepared and inspected | | Release | Dispatched | Assets leave the organisation’s control | | Use | Active | Assets are in use at the rental location | | Receipt | Returned | Assets are physically received | | Close-out | Completed | Condition, findings and related actions are reviewed | A more complex job may include partial dispatches, extensions, substitutions or partial returns. ## Draft A rental job is usually in **Draft** while its details are being prepared. At this stage, users may still need to: - Select the customer, project or recipient - Enter the rental location - Confirm the rental dates - Add assets and accessories - Check availability - Enter delivery or collection information - Attach supporting documents - Obtain approval A draft should not normally be treated as a confirmed commitment. Before moving it forward, confirm that the required information is complete. ## Pending A **Pending** status may mean that the rental is awaiting: - Approval - Confirmation - Asset allocation - Customer information - Commercial documentation - Availability review - Another required decision Review the rental record to identify the outstanding requirement. Do not leave a rental in a generic pending state without recording what must happen next. ## Confirmed or Scheduled A **Confirmed** or **Scheduled** rental indicates that the rental is expected to proceed. Before confirming it, check: - Recipient and location - Planned dates - Allocated assets - Asset availability - Required approvals - Delivery or collection arrangements - Maintenance conflicts - Inspection requirements - Included components and accessories Confirmation may reserve the allocated assets for the rental period, depending on the AssetIQ configuration. ## Ready for Dispatch **Ready for Dispatch** indicates that the asset preparation process has been completed or is sufficiently advanced for release. Before using this status, confirm that: - The correct assets have been selected - Required inspections have been completed - Assets are safe and operational - Components and accessories are recorded - Dispatch documentation is ready - Delivery or collection arrangements are confirmed - No unresolved restriction prevents release Do not use this status merely because the planned start date has arrived. ## Dispatched An asset is **Dispatched** when it has physically left your organisation’s control or has been formally handed over. When recording dispatch: - Confirm the correct asset - Record the actual dispatch date and time - Record the receiving party where required - Confirm the destination - Record condition and meter readings - Verify included accessories - Retain handover evidence - Update the rental status Do not record planned dispatch as actual dispatch. ## Active An **Active** rental is underway and has one or more assets currently supplied to the recipient or rental location. During an active rental, authorised users may need to: - Monitor the planned return date - Record extensions - Update authorised contact or location details - Respond to faults or damage - Arrange replacement assets - Record partial returns - Confirm operational restrictions - Follow up on overdue equipment An active status does not guarantee that the asset is operational. A rented asset may also be under repair, restricted or awaiting assessment. ## Partially Returned Use **Partially Returned** when some assets or required components have returned but others remain outstanding. For example: | Rental contents | Return position | | --- | --- | | Crane | Returned | | Lifting attachment | Returned | | Remote control | Outstanding | | Battery charger | Outstanding | The rental job should remain open until all expected assets and accessories are accounted for or an authorised exception is completed. When a partial return occurs: 1. Record each returned item separately. 2. Record its actual return date. 3. Check its condition. 4. Identify outstanding items. 5. Update the job status. 6. Contact the responsible party where required. 7. Continue monitoring the remaining rental items. ## Overdue A rental becomes **Overdue** when an expected return date has passed and one or more assets remain outstanding. When reviewing an overdue rental: 1. Confirm the planned return date. 2. Check whether an extension was approved but not recorded. 3. Confirm which assets remain out. 4. Contact the responsible person. 5. Record the latest information. 6. Update the expected return date only when authorised. 7. Check for scheduling or maintenance conflicts. 8. Escalate according to organisational procedures. Do not change the planned date merely to remove the overdue status. Record approved extensions through the correct process. ## Returned Use **Returned** when the expected assets have been physically received. Before recording an asset as returned: - Confirm its identity - Record the actual return date and time - Verify the return location - Check components and accessories - Record meter readings where applicable - Assess its condition - Document damage or missing items - Determine whether inspection or maintenance is required Returned does not automatically mean available. An asset may still require: - Cleaning - Inspection - Maintenance - Repair - Testing - Replenishment - Approval before reuse ## Completed A **Completed** rental has finished its operational close-out process. Before completing the job, confirm that: - All assets have been returned or accounted for - Return details are recorded - Components and accessories are accounted for - Condition checks are complete - Damage and defects are documented - Corrective actions or work orders have been created - Outstanding exceptions have been authorised - Required records are attached - Final review is complete Completing the rental should not close unresolved maintenance work or conceal missing equipment. ## Cancelled Use **Cancelled** when the rental will not proceed. Before cancelling: 1. Confirm that no assets have been dispatched. 2. Record the cancellation reason. 3. Release allocated or reserved assets. 4. Notify affected users. 5. Review related bookings or plans. 6. Retain the cancellation history. Do not delete a confirmed rental solely because it was cancelled. Retaining the record helps preserve planning and allocation history. If assets have already been dispatched, follow the return and closure process rather than treating the job as a simple cancellation. ## Job-level versus asset-level status A rental job can contain several assets at different lifecycle stages. For example: | Rental job | Asset | Asset status | | --- | --- | --- | | Active | Crane CRN-0042 | Dispatched | | Active | Attachment ATT-011 | Dispatched | | Active | Generator GEN-006 | Ready for Dispatch | | Active | Radio set RAD-004 | Returned | The overall job status provides a summary. The individual asset status provides the operational detail. Review both levels when: - Dispatching assets in stages - Recording substitutions - Processing partial returns - Following up on missing accessories - Closing the rental job ## Asset status versus rental status The master asset status and rental status also have different purposes. | Status type | What it describes | Example | | --- | --- | --- | | Rental status | Where the item is in the rental process | Active rental | | Asset operational status | Whether the asset can be used | Under repair | | Asset lifecycle status | Long-term position in its lifecycle | Active, retired or disposed | | Maintenance status | Progress of required work | Work order in progress | An asset can be part of an active rental while temporarily under repair. Do not assume that a rental status automatically updates every other status unless this behaviour has been confirmed in your AssetIQ environment. ## Planned dates versus actual dates Statuses should be supported by accurate dates. | Date | Purpose | | --- | --- | | Planned start date | When the rental is expected to begin | | Actual dispatch date | When the asset physically leaves | | Planned return date | When the asset is expected back | | Extended return date | Approved revised return date | | Actual return date | When the asset is physically received | | Completion date | When rental close-out is finished | Keep original planned dates where AssetIQ provides separate actual or revised fields. Accurate dates support utilisation analysis, overdue monitoring and audit history. ## Status changes caused by events Where possible, update statuses through the relevant business action. For example: | Business event | Expected status effect | | --- | --- | | Rental confirmed | Draft or Pending → Confirmed | | Asset prepared | Confirmed → Ready for Dispatch | | Dispatch recorded | Ready for Dispatch → Dispatched or Active | | Some assets returned | Active → Partially Returned | | Planned return date passes | Active → Overdue | | All assets received | Active or Overdue → Returned | | Close-out completed | Returned → Completed | | Rental cancelled before dispatch | Draft or Confirmed → Cancelled | This approach keeps the status aligned with the underlying operational record. Avoid manually changing a status without completing the related action when AssetIQ provides a dedicated workflow. ## Extensions and status An approved extension normally changes the expected return date without ending the active rental. Before recording an extension: - Confirm approval - Enter the revised date - Check future asset commitments - Check scheduled maintenance - Record the reason - Notify affected users - Confirm that the rental is no longer incorrectly shown as overdue See Extend or Update an Active Rental. ## Asset substitution and status If an allocated asset must be replaced: 1. Record why the original asset cannot be supplied or continue. 2. Confirm the replacement asset is suitable and available. 3. Remove or return the original asset through the correct process. 4. Add the replacement asset. 5. Record its dispatch details. 6. Preserve the history of both assets. Do not overwrite the original asset reference in a way that removes its rental history. ## Reopening a completed rental A completed rental should only be reopened through an authorised process. Reopening may be necessary when: - A return was recorded against the wrong asset - An accessory was later found to be missing - Damage was discovered during post-return inspection - The actual return date was incorrect - Required close-out information was omitted If reopening is unavailable, contact your AssetIQ administrator and follow the approved correction process. The reason and history of any correction should remain traceable. ## Common issues ### The expected status is unavailable The rental may not meet the conditions for that transition, or your role may lack permission. Review required fields, asset-level statuses and workflow actions. Contact your AssetIQ administrator if necessary. ### The rental remains in Draft Check whether required details, assets, dates or approval information are missing. ### The rental shows Active before dispatch Review the dispatch records and actual dates. Correct the workflow through the authorised process rather than entering misleading dates. ### A returned asset still appears rented Confirm that the return was saved against the correct asset and that all required return steps were completed. ### The job cannot be completed Check for: - Assets not returned - Missing accessories - Incomplete return information - Open validation messages - Unresolved exceptions - Required approvals - Incomplete close-out fields ### The rental appears overdue after an extension Confirm that the revised return date was saved and approved correctly. ### A completed asset is still unavailable The asset may require inspection, maintenance or a separate availability update before it can be rented again. ### The wrong status was selected Correct it through the available workflow before further activity occurs. If the status cannot be changed, contact your AssetIQ administrator. ## Recommended practices When managing rental statuses: - Use the status that reflects the actual operational position - Complete the related business action before changing status - Review both job-level and asset-level statuses - Record actual dates accurately - Preserve original planned dates - Record extensions through the proper process - Monitor overdue rentals promptly - Record partial returns individually - Do not treat returned assets as automatically available - Retain cancelled rental history - Complete jobs only after all assets are accounted for - Keep corrections and re-openings traceable ## Next steps Continue with: - Create a Rental Job - Add and Allocate Assets to a Rental Job - Check Asset Availability and Resolve Conflicts - Dispatch Assets and Start a Rental - Extend or Update an Active Rental - Return Assets and Record Their Condition - Close a Rental Job For a general introduction, see Introduction to Rental Management.