CasperLet/Credit Remaining
Any new tenancies which started after Monday, June 10th 2024, 07:00:00 (PDT) will now track "Credit".
This credit will gradually count down over time, as the credit gets used up by the cost of the rental. This figure is intended to represent the amount of L$ which the tenant has paid, minus the charge for the rental time thus far.
Here's how the value is calculated:
- Any L$ paid to the meter, minus discounts, is added as credit.
- The credit will slowly reduce as per the rental cost (so, if the rental is L$200 per week, then 0.00033 L$ will be deducted per second (equalling L$200 per week).
- Any rental time adjustments or bonuses will *not* affect the credit ledger. The only way to increase the credit is to pay the meter with L$ (or use the API to simulate that).
What is this for?
This value will be used by the CasperLet refund function once it's ran 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$ is "unused", which might be useful if you want to refund a customer manually.
What happens when credit reaches zero?
It will remain at zero until paid.
It doesn't go into arrears because that would penalise tenants for using any free/bonus time.
Please note, the meter itself will still go into arrears as before, this doesn't the tracking of payment for overdue time in any way.
What happens if the meter goes overdue?
If there's still credit, it will continue to deduct while the meter is overdue, until it reaches zero. This situation may occur if a manual time reduction is performed.