Yes. When an asset is checked in as off-hire, StayOnHire can automatically change its status to 'Not Ready for Hire' rather than assuming it's immediately available again. That stops a common failure mode: an asset gets marked off-hire on paper, but is re-booked before anyone has actually inspected or serviced it.
The status change is visible wherever that asset appears — the job calendar, the equipment list, and quicklooks — so nobody down the chain has to double-check manually.