RentRedi can automatically charge late fees when rent is overdue. Here's how to set it up:
Find Late Fee Rules
Choose one of these paths:
Type "late fee" in the search box on your dashboard, then select a property
Go to Properties & Units → select a property → Charges tab → More Dropdown → Late Fee Rules
Go to Settings → Feature Settings → Add Rules, then select a property
Configure Your Rules
Choose how to charge: Add the late fee to the rent charge or create a separate charge
Set a max late fee (optional): Cap fees at a percentage of rent or dollar amount
Add an accounting tag (optional): Categorize late fee income for reporting
Create your first rule:
Grace period: How many days/weeks/months before the fee applies
First late fee: Dollar amount or percentage
Recurring fee: Dollar amount or percentage charged repeatedly
Frequency: How often the recurring fee applies (daily, weekly, or monthly)
Stack multiple rules (optional): Click "+ Add Additional Rule" to create tiered fees (example: 5% for days 1-5, then 10% after day 6)
Preview your fees: The right panel shows exactly what tenants will be charged based on any rent amount you enter
Save your rule
That’s it! 🎉 Your late fee income charge will now be automatically created as a separate charge whenever a tenant’s payment is late.