Splinterlands assets rentals were designed with flexibility in mind and were built with the ability to cancel contracts if the market conditions change.
Benefits for Both Parties:
1) Renters can cancel previous rents to get the best deal in the market.
2) Owners can adjust prices based on scarcity.
The way our rental market's code works is that you rent the card for a 1-day interval, even if you secure the lease for a longer period. If Player A (renter) rents a card for 3 days from Player B (owner), the two parties will sign the equivalent of 3 contracts. The system transfers the first rental payment to player B and holds the other two days in escrow.
Usually, after 24 hours, the rental expires, but because Player A has preloaded for another 2 days, the rental continues as if nothing has happened.
If either player cancels the contract, it will be considered completed at the end of the current 24-hour period, at which time the card will be returned to Player B, and the remaining funds in escrow will be returned to player A.
If Player A cancels the contract, the card will go back on the market for rent.
If Player B cancels the contract, the card will be pulled from the market at the end of the current 24-hour period until Player B reprices the card.