Avail allows landlords to configure settings per unit so that a late fee posts when rent is not paid in full by the due date or within a set grace period.
If not setup when a lease or payment schedule is created, it be activated at any time from Payment Settings.
Once in the Payment Settings window, toggle on the switch to activate Late Fee Automation.
Next, press Edit next to the amount to set the late fee as desired, and then confirm the grace period from 1 to 10 days.
Special notes about automatic late fees:
- Automatic late fees post the day after the end of the grace period. Therefore when the grace period is set to 5 days- if rent is not paid in full by the end of the day on 5th day after rent is due, the late fee will charge on the 6th day.
- Avail sends email notices to tenants when late fees are assessed.
- Landlords have complete authority to manually post late fees and waive them as desired.
- Avail can charge one flat fee per month. Additional daily fees will need to be posted manually. Typically, daily late penalties are assessed by a landlord as a bulk charge once the rent is paid.