The prior functionality ran on an “override” schedule. For example, if I wanted to charge my tenants a $20 late fee, 5 days past due, I set up the first fee for 5 days past due, and $20. However, if I wanted to charge a second late fee in the amount of $50 on the 30th day past due, it had to be set up in the system as 30 days past due, $70. For each consecutive late fee, the amount configured was the total override amount. See example charts below.
As of February 3, 2023,
this has changed to remove the override function. Whatever fee you want to
charge next, is simply the amount entered in the "fee value" in Settings --> Financial Settings --> Late-Lien Fees Schedule.
Days Past Due
Intended Late Fee
Days Past Due
Intended Late Fee
Going forward, the Late-Lien settings will reflect your current late fees, without the override If you have more than one late-fee, we recommend double checking your late fee schedule to ensure the fees are programmed as you intended. If you do need to make an edit, follow the steps below:
Add Fee Schedule
Go to Settings >> Financial Settings >> Late-Lien Schedule
To add a fee schedule, click Add Late-Lien Fee
Select location and storage category from the dropdown.
Select Fee type from the drop down list.
Fee Name – Enter a name as reference to describe the fee. Both the Fee Type and Fee Name will reflect as the line item on an invoice.
Frequency is the rate of recurrence of the fee, either daily or only once.
Late day(s) is the number of days past the payment due date.
Select the Charge type.
Fixed value applies a fixed amount as the fee.
Percentage applies a certain percentage of the invoice amount as the fee value.
Select the Apply type.
Recurring per invoice - Applicable to all the invoices generated per unit/lease in every billing cycle.
One time on lease – Applicable only once on each unit/lease regardless of the number of unpaid invoices.
Minimum invoice balance - late fees will not apply unless the balance due is greater than the minimum balance configured.
Percentage on invoice due applies a specific percentage of the invoice amount as the fee value.
Fixed amount applies a fixed amount as the fee. If an invoice balance is greater than the minimum balance amount (which you set here either by percentage or fixed amount), then the fee will be applied.
Do you want to apply tax for late fee? – Determines if tax needs to be applied to the late fee.
Enable the toggle buttons to notify your tenants via email and SMS. You can preview the template by clicking View Email Template. Click Save.
Note: To make any changes to either or both the email and SMS templates, go to Settings à Documents à Notification Templates.
Edit Fee Schedule
To edit a saved schedule, click on the three-dot menu in the Action column. By clicking Edit, you can edit all the fields in the schedule.
Note: Changing the settings of the mandatory fields may require double confirmation on a pop-up.
Delete Fee Schedule
Deleting a fee schedule is as simple as clicking the trash icon.
If you are sure you want to delete the fee, enter comments (optional) and click Yes in the confirmation pop-up. To revert the action, click No.
Click Tenant Preferences >> Late-Lien fee. The fee modules applicable to the tenant will appear. Enable/disable the toggle buttons for each fee.
You can also enable/disable the reminders for the tenant by clicking the toggle button Remind your tenant.
To control the lease preferences for specific units, click on the unit number on the same page. Click the dropdown Lease Preferences and enable/disable the toggle button accordingly.