Tenant Late Fees Not Posting

If your tenant's late fees did not post this month, there are a few reasons to explore. 

Click this link for steps to quickly manually enter Late Fees: How to Manually Post Late Fees

Tip: Any update to Late Fee settings will take effect in the following billing cycle.

REASON #1

It's the tenant's first month in the software - Late fees will not auto-populate during a tenant's first month in Rentec if they are on a Monthly billing cycle. Late fees will only auto-populate in subsequent months. If your tenant is overdue during their first month, you will want to post a late charge using the steps below manually.

REASON #2

If a tenant is added to the software with historical rent charges and payments, and has historically paid late. In that case, historical late fees will need to be manually posted using the steps below.

REASON #3

If the balance on the ledger is only the current month's late fee, daily late fees will not be created.

REASON #4

Late Fee settings were not established prior to moving in a tenant:

• Account Late Fee settings for the account are established in Accounting Defaults 
• When tenants are moved into a property, Accounting Defaults for the individual can also be selected at that time.

Verify Recurring Transaction Settings

The following steps walk through how to verify the Recurring Transaction settings:

In your Rentec Direct:

1. Click on Settings
2. Under Financial, click on Recurring Transactions
3. Click on the transaction to view details (Review warning & click on OK)

• The Action must be a Rent Charge (not Expense)
• The Begin Date is the date the recurring charge began
• The Interval Day is the day rent is due, usually the 1st of each month

Example:

Action - Rent Charge

Begin Date - 06/01/2025 with an Interval Day “1”

Grace Period - 4 days

Rent will post on 06/01/2025 (and the 1st of each following month), there’s a 4-day grace period, if rent hasn’t been paid by the 5th, the default principal late fee charge will post.

** If a tenant is added to the software on 06/05/2025 with a backdated Begin Charge date, the grace period has been missed, late fees for this month will need to be manually posted. They will begin automatically posting the following month.

Click here to learn more about establishing Late Fees

How to Manually Post Late Fees

Now that you understand why Late Fees did not post automatically, you will want to be sure and post them manually.  

In your Rentec Direct account: 

1. Click on Tenants 
2. Right-click on the Tenant and choose Post Charge
3. Enter the Date and Amount
4. Using the Product / Service dropdown, select Late Fee
5. Enter a Memo if needed and click on  Post Charge