Oh god. Undercutting rental prices? I wonder what kind of upkeep those apartments will get? Can you say, "Slumlords of the Sith?"
I think if they're going to run a player rental system, they'd have to make it a direct withdraw/deposit thing. If you can't find your slumlord to pay him the rent because he's off on Naboo doing something for a few weeks, then you lose your stuff? No. Just put another terminal somewhere.
Like wise, if you can't pay your rent and just forget about it, you should get your gear repo'd. Send a pack of Wookie Repo men to pick up your crap and remove you from the premises if necessary. Then the slumlord could sell your stuff or keep it. Then he could invite you over sometime to let you reminiesce with your old couch...
Fresh, pressed, dressed to impress, ready to party.