We’ve increased the flexibility of both the management fees (for property managers) as well as the late fee functionality (for landlords and property managers).
- Management Fees can now be automatically charged based on a percentage of tenant payments. This can incorporate rental income, late fees, or any other inbound dollars from tenants. To use this new feature, edit your management fees, and specify a percentage in the “Percentage of Tenant Payments” as displayed in the screenshot below. You can also specify multiple fees via this interface and each selected fee will be charged.
- Late Fee functionality has also been improved. There is now a new option to charge a percent of overdue as the late fee. For instance, if the overdue balance is $1000 and you specify 5% as the late fee charge, it will automatically post a $50 late fee after their grace period expires.
