After your first 12-month lease period, your lease will renew automatically unless you cancel your lease or change your leasing plan at least 30 days prior to renewal.
If you opt for an annual plan, your lease will renew for another 12-month period and you will be charged the annual lease amount at the beginning of the renewal period. For example, if your first 12-month lease period ends on December 31, 2023, your next lease period will automatically commence on January 1, 2024, and you will be charged the annual fee of $1,068 (or the current annual lease amount). If you want to cancel your lease or buy out your ARENA Platform, you must wait until the end of your leasing period.
If you opt for a monthly plan, your lease will renew on a month-to-month basis at a monthly lease amount. If you opt for a monthly plan you can cancel your lease at any time (after the initial 12-month leasing period) at least 30 days before your next billing date. For example, if your next billing date is June 1st, you must notify us by April 30th if you would like to cancel
If you do not cancel your lease or change your leasing plan at least 30 days prior to renewal, your lease will automatically continue, and we will continue to collect and charge the leasing fee (and any applicable taxes), for each such renewal, using any payment method you have on file with ARENA.