Azibo Landlords have the option to enable automatic late fees for their renters when setting up the payment terms. Landlords can choose the amount, grace period and send by or deliver by configuration. The late fee will be included with the rent invoice amount and can be waived manually at any point. You can change your late fee settings at any time.
There are two configurations for late fees:
|Late Fee Configurations|
|Sent By||Apply a late fee to this invoice if the renter has not submitted a payment before the end of the grace period. If my renter sends the scheduled payment before the end of the grace period, no late fee will be assessed. Renters can "send" payment on any calendar day.|
|Deliver By||Apply a late fee to this invoice if the renters payment is delivered to bank account after the end of the grace period. To avoid a late fee the renter must schedule their payment so that it is received by the landlord before the end of the grace period. Renters can only send payments on business days.|
For a bulk update of your late fee settings, follow these steps:
- Navigate to Properties.
- Select Manage Properties.
- Choose the specific units or properties you want to apply the changes to.
- Adjust your settings according to your preferences.
Please be aware that any modifications made to the renters' payment terms and settings will disable autopay for their protection. They will receive email notifications to keep them informed of these changes.