Lien Fees as a percentage of rent
For several years my company has requested that the lien fees be allowed to be set as a percentage instead of just a flat rate. Similar to the late fee where you can choose a flat amount or a percentage of rent.
Has anyone else requested this.
The logix behind our reasoning is that a percentage amount would be more proportional to the overdue amount.
i.e. a flat amount on a small unit may encourage the tenant to pay their outstanding rent on time, where the same flat amount would only be a drop in the bucket on larger units. However a percentage based penalty would be equally motivating on all unit sizes.