If your tenant’s late fees did not post this month, explore the reasons below…
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, 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, scroll to the bottom of this post.
Daily late fee 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. To verify this, head to Settings/Accounting Defaults and/or right click on your tenant’s name and select Edit Tenant to view the established late fee.
To learn more about establishing late fees, CLICK HERE.
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. To do so, head to the tenant tab, click on the red dollar sign in the action column across from the tenant’s name and post the late fee charge. You can change the default date to what ever date you wish the system to reflect and you may enter any description you desire in the Description field. Leave the category default at “0000 Charge.”