Tenvale can apply a late fee to an unpaid bill according to a fee policy you configure. This article covers the fee types available, how the grace period works, and where automated assessment applies.
Fee types
You can configure one of four fee types per organization:
- Flat — a fixed one-time dollar amount, charged once.
- Percentage — a one-time fee calculated as a percentage of rent.
- Daily — a recurring fee that accrues for each day the bill stays unpaid.
- Monthly — a recurring fee charged per 30-day block the bill stays unpaid.
Flat and percentage fees are assessed once and don't grow further. Daily and monthly fees keep accruing while the bill is unpaid, so you can set a maximum fee cap on those two types to bound how high the total can climb. Choose whichever type matches how you already think about late rent: a flat fee is simplest to explain to tenants, a percentage scales with rent across different units, and daily or monthly fees put more pressure on rent that stays unpaid for a long stretch.
Grace period
You configure a grace period: the number of days after the due date before a late fee can apply. Tenvale then uses whichever is longer, your configured grace period or the statutory minimum for the property's state, if one applies.
For example, Massachusetts law bars any late fee until rent is at least 30 days overdue. If you set a 5-day grace period on a Massachusetts property, Tenvale still waits the full 30 days before assessing a fee. Your setting can't undercut what the law requires.
Where automated assessment applies
Automated late-fee assessment currently runs only for properties in the six verified states: Massachusetts, Connecticut, Rhode Island, Vermont, New Hampshire, and Maine. For properties outside those states, your late-fee settings are advisory only. Tenvale does not automatically apply a fee there, since the underlying state rules haven't been verified yet.
A bill with a payment already in progress
If a bill has a payment attempt in flight, for example a Pay Now charge or an autopay charge that's processing, Tenvale skips assessing a late fee on it that day. This avoids stacking a late fee on a payment that may already be on its way.
Tenant notification
When a late fee is applied to a bill, the tenant is notified.
Related
- Rent Collection & Fees — how bills are generated and paid
- Autopay — how a paused or failed autopay charge factors into a bill's status
Need help?
If a late fee looks wrong on a specific bill, email support@tenvale.com with the property state, the bill's due date, and your configured grace period.