Setting up Late Fee Schedules

cashgloria

Can you have one late fee set up in sitelink as a set dollar amount and another late fee as a percentage amount and have them occur on the same day?  For instance, for all of our tenants with rents that would have a late fee of higher than $20 a month we want to charge them 20% per month. Both late fees would be due on the same day that the rent is past due each month.  Or is it only possible to either charge a dollar amount late fee or a percentage amount late fee?

AnitaJohnson1269

Yes under set up , charges.  Late fees can be created for 20% per month.  Under that you can put in a Minimum $20 amount so if the % is less than $20, it will charge the $20 instead. 

MamaDuke7

Go to setup - Units and Tenants - Edit Tenant Fees.  From there, select the ones that you want to change to the new percentage.  Click Late Fee then Edit.  Change to Percentage of Rent and put the percentage.  Then save.

cashgloria

Thanks MamaDuke7.  I did that, but it adds both late fees to the same tenant.  I want it to add $20 on tenants with lower rent and 20% on those with higher rent.  Is there a way to differentiate between the two late fees?

cashgloria

Okay!  Thanks AnitaJohnson1269!  That's great!  

AnitaJohnson1269

Ours is $15 or 15% which ever is more.  Setup>Charges>Late Fee