Want to create a late fee charge for a unit automatically?
No worries—RentRedi makes it simple! 😄
Follow these steps: 👇
On your RentRedi dashboard, click the dropdown next to Rent
Select Late Fee Rules
Click the unit where you want to add your rule
Set a grace period: Days rent is late
Enter a first late fee amount: Late fee (1st time) — dollar amount or %
Enter a recurring late fee amount: Late fee (recurring) — dollar amount or %
Set the frequency of the recurring late fee to every: day or week
(Optional) Set a maximum late fee
Set which charges the rule Apply for: (example: Rent (Rental Income))
Under Save as, select Create a Separate Charge
This ensures the late fee is automatically added as its own charge when rent is late
Click Save (top right side)
That’s it! 🎉 Your late fee income charge will now be automatically created as a separate charge whenever a tenant’s payment is late.