Late fees are often a convenient way to reduce delinquencies and encourage residents to pay promptly. From time to time, it is necessary to clean up a ledger and remove late fees. Reasons can vary from a late fee policy running amok to extenuating circumstances in the resident's life that justifies the late payment.
Buildium offers a fast and efficient feature to remove the late fee charges from lease and ownership account ledgers. Using this feature you'll have two choices:
Waive fees with a credit - Waiving a fee retains the original late fee charges on the ledger and adds a credit to reduce the amount owed. The benefit of this solution is that the credit can serve as a reminder that you were a "nice guy" and that the late fees existed for some reason.
Delete fees - Deleting the fees removes the charges from the ledger completely. The benefit of this solution is that the charges are gone and the ledger is less cluttered.
Remove late fee for tenantsShow
- Navigate to Rentals > Rent roll.
- Click the tenant's lease.
- Click the Financials tab.
- Click Remove late fees. Buildium will find all of the recent late fee charges.
-
Click the charge(s) you wish to remove.
You can select all at the bottom of the list.
-
Click the button that best fits your intentions.
Remove late fees for association ownersShow
-
Go to the Associations menu.
- Go to the Ownership accounts page.
- Click Association Owner's name that you would like to remove a charge from.
- Click the Financials tab.
- Click Remove late fees. Buildium will find all of the recent late fee charges.
-
Click the charge you wish to delete.
You can select all at the bottom of the list.
-
Click the button that best fits your intentions.
| Article #: | 112500 |