Yes. But you'll have the same 60-days' worth of free access to the property that you would always have had, if we hadn't updated the system to the new method, so you've not been short-changed.
From 60 days though, you'll be required to pay up every 28 days, or be evicted. You'll be able to buy rent in chunks smaller than 28 days, if it's all you can afford, but the point is, it means that people will have to earn - and spend - money if they want to hang on to a house indefinitely.
The system may well receive some balancing as we go forward, depending on feedback and observed behaviour - but it's unlikely to become evident for at least 28 days (the time-period before any houses bought just after the update, fall due for rental payment).
The idea is intended to stop huge gangs getting really complacent and resorting to mindless violence for their fun (as sometimes happens, alas). This way, they always have a need to actually go an earn something, rather than just messing about. We hope this will improve their long-term RP on the servers, as well as give them some focused goals to enjoy.
It's not our intention to make it *too* difficult for the ordinary law-abiding civilian, but we still want to make house ownership (or rather, house-leasing) feel more realistic and act as an incentive to actually make money. And to make the possession of a house feel more valuable, compared to living the hobo life.