He told BBC Radio Cambridgeshire: "I don't think I'm in Peterborough's plans, but that could change and it's a bit up in the air at the moment.
"There's a new manager and I might get my chance. I'm not sure."
Rendell joined Posh from Cambridge United in 2008.
He was transfer-listed last summer, eventually moving on loan to Torquay following their promotion to League Two.
"The most I've played is three games in a row and for whatever reason it hasn't worked out with Peterborough," Rendell said.
"But they're my employers and if they want me I'd be more than happy to pull on the shirt again."
New Posh boss Gary Johnson is yet to speak with Rendell, but the pair are likely to meet within the next week.
"The fans haven't seen the best of me, I'd definitely like a chance to try and prove myself again and we'll have to see if that happens," Rendell said.
Posh currently have eight players out on loan, including defenders Jamie Day and Tommy Williams who have already been told they can leave the club.
Source: BBC Sport
Source: BBC Sport