Unless voided, revoked or otherwise suspended for conditions or defects under the PMC, Chapter 8.18, the residential rental property license term shall be for the remainder of the calendar year commencing from the license issuance date pursuant to Section 5.20.030 of the Code. Upon expiration of the license term, or following revocation or suspension of the residential rental property license, the license must be renewed or reinstated, as appropriate, in order to be effective.