Tenant Late Fees Not Posting
If your tenant's late fees did not post this month, there are a few reasons to explore.
During a tenant's first month in Rentec, late fees will not auto-populate. Late fees will only auto-populate in subsequent months. If your tenant is late during their first month, you will want to post a late charge manually. For details of how to manually post those late fees, scroll to the bottom of this post.
If you are new to Rentec and are entering in historical rent charges and payments for your tenants, and your tenant paid late historically, late fees will not automatically post. You will need to post each historical late fee. For details of how to post manually, scroll to the bottom of this post.
Daily late fees will only apply to outstanding balances of rent and any other previous month's charges. The daily late fee will not populate if the only balance remaining is a current month's late fee.
The default late fee was not established in the Accounting Defaults of your program, nor when you placed a tenant in a property. You can either verify this information on the Tenants Profile or in Settings under Accounting Defaults.
More information on establishing late fees can be found here: Late Fees
HOW TO MANUALLY POST LATE FEES
Now that you understand why your late fees did not post automatically, you will want to be sure and post them manually.
In your Rentec Direct account:
- Click Tenants.
- Click on the Tenant from the Tenant List.
- Right-click or from the Tenant Profile Card choose Post Expense.
- Enter the late fee amount.
- Edit the due date if desired. You can change the default date to whatever date you wish the system to reflect.
- Enter any description you desire in the Description field.
Important note: Leave the category default at 110 Charge.
- Click Post Charge.