If you want tenants to pay both rent and late fees at the same time, you can bundle the late fee with the rent.
This keeps the late fee accruing until the total amount is paid, encouraging timely payment of both charges. 🎉
Here's how to set it up: 👇
From your RentRedi dashboard, type “late fee” in the search bar.
Click Late Fee Rules from the results.
In your Late Fee Rules page, click the unit where you want to edit a rule.
In the Save as: section, you have two options:
Add to existing: Combines the rent charge and late fee into a single charge, which can encourage tenants to pay both together.
Create a separate charge: Displays the rent charge and late fee as separate charges, which is helpful for keeping income types organized in your accounting records.
Select Add to Existing to bundle the rent and late fee into a single charge.
Click Save Rule.
Done! ✅
Pro Tip💡– Enforce Payment of Old Charges.
You can set your payment rules to require tenants to pay their oldest charges first. Using this with your late fee rule ensures:
Tenants pay their oldest balance first. ✅
No late fees are skipped. ✅
Example: A tenant has an unpaid balance from February, and their current rent is due in June. When this setting is enabled, the tenant will be required to pay the past-due balance first before they can pay their current rent.
Check out this Help Article for info on how to require old charges to be paid first!
💬Need help?
Contact us! RentRedi Chat Support is available 24/7! Access our Live Chat via the chat bubble in the bottom right corner of the RentRedi dashboard.