TABLE OF CONTENTS



Overview & Purpose 

PropertyBoss supports multiple late fee calculation methods, each with distinct business rules. Late fees can be defined at:

  • Property Level (global control — disallows per‑unit/lease changes)
  • Unit Level
  • Lease Level

Late fees only apply to charges whose transaction definitions have:

  • Eligible for Late Fees = checked
  • Correct Date Due setting
  • Correct Grace Days Basis


Where Late Fees Are Controlled 

1. Property Level (Optional)

Enable via Processing Options → Late Fees maintained at Property Level. When enabled:

  • All late fee settings apply to ALL properties
  • Unit and lease‑level late fee setup is disabled

2. Unit & Lease Level

Leave Property‑level control unchecked to allow:

  • Unit‑specific late fee defaults
  • Lease‑specific late fee overrides


Transaction‑Level Requirements 

Only the following transaction types can incur late fees:

  • Rent/Fee Due
  • Charge to Tenant
  • Maintenance Paid by Tenant
  • Credit Owner When Paid (if configured accordingly)

Each must define:

  • Date Due
  • Grace Days Basis
  • Eligible for Late Fees


Late Fee Methods — Complete Verbatim List

Below is the full verbatim list of all late‑fee calculation methods supported by PropertyBoss.


1. Initial Charge Only 

Charges one late fee per eligible unpaid charge.

  • Calculated on Late‑On‑Day
  • Applies one fixed and/or percent amount
  • May generate multiple late fees if multiple charges are late
  • “With Next Rent Charge” merges multiple charges into one fee
  • This method is straightforward and suitable for simple portfolios.


2. Initial Charge + Daily Charge 

Charges:

  • One Initial late fee, then
  • Daily fees for each day past due
  • Until Max Times to Charge or balance is paid
  • This method closely resembles per‑diem late fees.


3. Initial + Daily (Summarized) 

  • Same as above, but summarizes all late fees into one monthly fee on the register. AutoPost still calculates each detail line. 
  • Useful for clean statements.


4. Initial and/or Monthly Charge 

Charges:

  • Optional Initial Late Fee
  • Recurring Monthly Late Fee assessed each Late‑On‑Day
  • Suited for association billing and portfolios with monthly fee structures.


5. Initial and/or Specific Days Charge 

  • Charges fees on specific days after AR Due Date: e.g., Day 6, Day 8, Day 10.
  • Also supports an Initial Fee.
  • This method provides extremely granular control.


6. Monthly Charge on Billing Day 

  • Originally for HOA/COA.
  • Charges one combined late fee per month on a specific “Bill On Day.”
  • Acts similarly to interest calculations.


7. Use Ranges: Single Charge 

Charges a single late fee based on unpaid charge balance ranges. Example ranges:

  • $0–$500 → $5
  • $500+ → $10


8. Use Ranges: Daily Charge 

Charges a daily fee based on unpaid balances falling within configured ranges.


9. Use Ranges: Monthly Charge 

Monthly late fees determined by balance ranges.


“With Next Rent Charge” Behavior 

In many methods, choosing Date Due = With Next Rent Charge for a transaction will:

  • Merge utility charges with Rent Due
  • Apply one combined late fee
  • This prevents tenants from being double‑charged for small charges mid‑month.


Max Times to Charge 

Defines a limit for daily or specific‑day late fee cycles.


Minimum Past Due Balance 

Prevents late fees on insignificant unpaid balances.


Conditions Required for a Late Fee to Post 

All must be true:

  1. There is an unpaid balance
  2. Balance is greater than Minimum Past Due Balance
  3. Transaction is Eligible for Late Fees
  4. Late Date < current date


AutoPost & Late Fees 

AutoPost Preview shows:

  • Late Fee Date
  • Transaction source
  • Initial Late Fee
  • Other Late Fees
  • Paid Thru
  • Last Late Fee Date

Late fees are not deletable from AutoPost. To block fees:

  • enter a Manual Late Fee = $0.00, or
  • enter a “Waive Late Fee” note transaction.


Additional Rules & Important Notes 

  • PropertyBoss will only look back 90 days when applying late fees to unpaid historical charges.
  • Single vs multiple late fees are determined by transaction definition configuration (Date Due rules).
  • Late fees depend entirely on:
    • Transaction Definitions
    • Late Fee Method
    • A/R Due Date
    • Grace Days
    • Minimum Past Due Balance


Late Fee Explanation Behavior 

Controls how the system generates the explanation on statements:

  • Standard – Use default text based on Method
  • Append – Add custom text after standard reason
  • Replace – Use entirely custom text 
  • Fields are hidden if late fees are controlled at the property level.


Reporting Related to Late Fees 

Reports related to rent changes, payment status, and late fee auditing include:

  • A154 Lease Rent Changes History
  • A180 Late Payment Aging Report
  • A190 Late Payment Report
  • A152 Lease Account Status