{"id":1274,"date":"2012-04-17T14:57:19","date_gmt":"2012-04-17T21:57:19","guid":{"rendered":"http:\/\/www.rentecdirect.com\/blog\/?p=1274"},"modified":"2016-12-27T15:36:28","modified_gmt":"2016-12-27T23:36:28","slug":"improved-late-fees","status":"publish","type":"post","link":"https:\/\/www.rentecdirect.com\/blog\/improved-late-fees\/","title":{"rendered":"Improved Late Fees"},"content":{"rendered":"<p>Just the other day we released <a title=\"Bi-Weekly Rental Support\" href=\"http:\/\/www.rentecdirect.com\/blog\/2012\/04\/bi-weekly-rental-support\/\">bi-weekly rental support<\/a>.\u00a0 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.\u00a0 Beginning today you&#8217;ll notice the late fees function much better for the following scenarios:<\/p>\n<ul>\n<li><strong>Monthly Recurring Rent + Daily Late Fee:\u00a0<\/strong> 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.\u00a0 This has been corrected and daily late fees will now continue until the next term as originally intended.<\/li>\n<li><strong>Weekly late fee improvements:<\/strong>\u00a0 We&#8217;ve changed the &#8220;monthly fee&#8221; to &#8220;frequency fee&#8221;.\u00a0 This is more flexible for landlords doing rent in frequencies other than monthly.\u00a0 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.\u00a0 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.<\/li>\n<li><strong>Bi-Weekly Support:<\/strong>\u00a0 Bi-weekly late fees will function just as the weekly late fees do now, except be checked every other week following the grace period.<\/li>\n<li><strong>Multiple Recurring Rent Charges:<\/strong>\u00a0 We&#8217;ve enhanced the late fees code to support a scenario where a landlord sets two or more recurring rent charges for a tenant.\u00a0 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.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Just the other day we released bi-weekly rental support.\u00a0 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.\u00a0 Beginning today you&#8217;ll notice the late fees function much better for the following scenarios: Monthly Recurring Rent + Daily Late Fee:\u00a0 Previously [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":true,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4],"tags":[370,289],"class_list":["post-1274","post","type-post","status-publish","format-standard","hentry","category-product-update","tag-bi-weekly","tag-late-fees","et-doesnt-have-format-content","et_post_format-et-post-format-standard"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin 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