CasperLet/Credit Remaining

Any NEW tenancies which started after Monday, June 10th 2024, 07:00:00 (PDT) will now track "Credit Remaining".

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What is this for?

This credit reflects what's actually been PAID into the rental unit - whether directly by the tenant or by someone else - and subtracts the charge for the rental time used since money was last paid into the unit.

This credit will gradually count down over time, as the credit (and time) gets used by the tenant in the rental.

Eventually, this value will be used by the CasperLet refund function once it's run for a while and is available on a majority of rentals (only new tenancies will log the data needed for this).

In the meantime, this value should accurately show how much L$ (that has been paid in) is "unused", which might be useful if you want to refund a customer manually.

How is this calculated?

Here's how the value is calculated:

* Any L$ paid to the meter, minus discounts, is added as credit.

* The credit will slowly decrease as time goes by on the rental (so, if the rental is L$200 per week, then 0.00033 L$ will be deducted per second (equaling L$200 per week).

* Any rental time adjustments made via the website, or rental bonuses you have set up, do NOT affect the credit balance.

The only way to increase the amount of the credit balance is to pay the rental unit with L$ (or use the API to simulate that).

What happens when the credit balance reaches L$0?

It will remain at zero until someone pays L$ into the rental unit again.

The credit balance will NOT force a unit to go into arrears because that would penalise tenants for using any free/bonus time.

What happens if the rental unit goes overdue?

The rental unit's "overdue" status is NOT tied to the credit balance.

Whether or not there is a credit balance does NOT impact tracking of the passage of time for the rental itself.

If there is still credit when the rental unit goes into an "overdue" status, the credit balance will continue to decrease until it reaches zero. This situation may occur if a manual time reduction is performed.