Just the other day we released bi-weekly rental support. Now since all popular frequency options (daily, weekly, bi-weekly, and monthly) are supported, it is time for an update to the late fees code. Beginning today you’ll notice the late fees function much better for the following scenarios:
- Monthly Recurring Rent + Daily Late Fee: Previously the daily late charges would not continue past the 31st of the month and into the next month if rent was charged on a day other than the first. This has been corrected and daily late fees will now continue until the next term as originally intended.
- Weekly late fee improvements: We’ve changed the “monthly fee” to “frequency fee”. This is more flexible for landlords doing rent in frequencies other than monthly. Monthly fees will work the same as always; however, if you rent weekly or bi-weekly the frequency based late fee will now charge based on the rental frequency. For instance, if a late fee was imposed on a weekly renter, the late fee would charge each week if the tenant was overdue past their grace period.
- Bi-Weekly Support: Bi-weekly late fees will function just as the weekly late fees do now, except be checked every other week following the grace period.
- Multiple Recurring Rent Charges: We’ve enhanced the late fees code to support a scenario where a landlord sets two or more recurring rent charges for a tenant. For instance, if the tenant is charged rent on the 1st and the 15th of each month with a 5 day grace period, late fees will occur on the 6th and 21st of each month if the tenant is overdue.