Customize and Edit Late Fee Settings
In addition to being able to change your default late fee settings, you are able to customize the late fee settings on a per tenant basis as well as create custom late fee categories instead of using the system defaults.
More information about late fees (tracking, notifications, system defaults) can be found here:
Late Fees
How to Customize Late Fee Settings for a Tenant
After you've set your default late fees, you might have the need to modify those case-by-case depending on your tenant's lease agreement or payment arrangement terms.
In your Rentec Direct account:
- Click Tenants
- Right-click on the tenant's name and choose Edit Tenant from the drop-down menu
- In the Accounting Defaults section, click the paper/pencil icon next to Late Fees enabled
- After you modify the settings as needed, click Save Changes when finished
Important Notes:
Changing the late fee settings for a tenant does not affect historical late fees already posted. The daily late fee will apply if there is any outstanding balance (this includes rent and any other previous or current month's charges). However, the daily late fee will not populate if the only balance remaining is a current month's late fee. This charge will post daily until the tenant's balance is positive.
Create Custom Late Fee Charge
They system defaults any non-rent tenant charge as a 110 Charge on the tenant ledger. You are able to create separate customized tenant charges that have a corresponding category report in Products & Services under Settings. More information on creating custom tenant charges can be found here: Customize and Add Other Tenant Charges.