Lenders (LandWorks NFT owners) are able to update their lending conditions. They are able to update the parameters on the land they provided in the protocol. The parameters are the same as the one specified when listing land:
min period -> the minimum number of seconds the land can be rented by a given address
max period -> the maximum number of seconds the land can be rented by a given address
max future time -> the timestamp delta after which the protocol will not allow for the land to be rented. It is used to enforce the liquidity of the land, based on the preferences of the depositor. See Land liquidity.
payment type -> the payment token in which rent will be charged. See Payment Options.
price per second -> the price of the rent charged per block
The protocol will payout the current unclaimed rent to the LandWorksNft owner as a part of the update conditions transaction.
The new lending conditions will be applied the next time the land is rented and will not affect the current renters in the queue and rulers.