How to set up late fee over the cummulated overdue amount to be charge monthly?

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If you have a tenant that has not paid the last 3 months, does the late fee apply over each of the monthly rental amount or over the cummulated rental amount (Which is overdue) 
Thanks!!

Answers

  • saypyramid
    saypyramid Registered User
    If you have a tenant that has not paid the last 3 months, does the late fee apply over each of the monthly rental amount or over the cummulated rental amount (Which is overdue) 
    Thanks!!

    Late fees typically apply to each month's overdue rent separately, not the total accumulated amount. Check your lease agreement for specifics.

  • hootpotato
    hootpotato Unconfirmed, Registered User
    If you have a tenant that has not paid the last 3 months, does the late fee apply over each of the monthly rental amount or over the cummulated rental amount (Which is overdue) 
    Thanks!!
    It depends on the terms outlined in the lease agreement. Late fees are usually charged either per missed month or on the total overdue amount.
  • judgmentalflint
    judgmentalflint Unconfirmed, Registered User
    edited July 1
    CarlosLonghi_1089 bitlife online  Does the late fee apply to each monthly rental amount or to the whole rental amount if your tenant hasn't paid for the past three months?

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