Overview
While we would like all our tenants to pay on time, that isn't always the case. Sometimes your tenants pay late, and they need to be charged a late fee. Rather than track this yourself, you can configure late fee policies and let DoorLoop handle the late fee charges and notifications for you.
DoorLoop has late fee settings available at the company, property, and lease levels. Create late fee policies based on whether you want them to apply to all your properties, certain properties, or even just a specific lease.
By default, all your properties use the company late fee settings. If your leases have the same late fee schedule, all you have to do is set your company's late fee settings and turn on late fees when you create your leases.
The Steps
Set Up Property-Specific Late Fee Settings
Late fee settings for an individual property can either use or override your company's late fee settings. If you're trying to set up a property to have its own late fee policy that differs from the company's late fee policy, you'll want to continue reading.
To set up your property-specific Late Fee settings, click Rentals > Properties on the main menus. Find and click on the property you want to set a unique late fee schedule for.
On the property, click on the Settings tab and then the Fees Settings button.
On the Fees Settings window, click Late Fees on the left menu to get to the Late Fees section.
In the Late Fees section, select from the following options:
Use company default late fee structure: This will use the same late fee schedule as your company default settings.
Specify a late fee structure for this property: This will set a unique late fee schedule for this property that you will create now.
If you chose "Specify a late fee structure for this property", then you will need to create the late fee policy for this property. It is similar to how you would set it up on the Company Level Late Fee settings.
Click Save to finish.
Good work! Your late fee policy is set up for this property. Note that you will still need to turn on late fees for each lease by following the instructions here: Set Up Lease-Specific Automatic Late Fees.
Going forward, this late fee schedule will automatically charge the appropriate late fees to any lease set to use the property settings. You can return to the property late fee settings at any time to adjust them as needed.
Tip: Use the article: Set Up Automatic Late Fees to learn how to use the late fee settings and what each section of the late fee settings do.
Things to Consider
Late Fee notifications by SMS (text message) will use one communications credit for each text message sent. this includes reminders before late fees are charged and once late fees have been charged. To not incur additional fees for text messaging late fees, we suggest turning this feature off and just sending notifications via email or push notifications.