What is the Late Fee Calculator?  Located within the Money In tab of the application, Propertyware's Late Fee Calculator provides you and your team a systematized method of taking charge of your rent delinquencies. The Late Fee Calculator flags all past due tenant charges by portfolio or building and automatically estimates late fees associated with these unpaid charges. At your option, these estimated late fees may be modified or applied as actual late fee charges to appear on a lease's tenant ledger.

How do I use the Late Fee Calculator?

1. Click on the Money In Tab from any page of the application.

2. Click on the Quick Collect button from the sub-navigation bar that appears immediately below the green Money In page header.

3. Click on the green Late Fee Calculator button located above the displayed table.

4. From the View By dropdown menu, select the Portfolio or Building for which you would like to view total past due charges and assess late fees. These charges and fees may also be viewed by creating and toggling between personalized Saved Views, which are customized listings of any combination of portfolios and buildings. To create a Saved View, simply click on the New View button to the right of the View By filter. Whether using the View By filter or personalized Saved Views, the table will then refresh to display the Total Past Due, Estimated Late Fee, delinquent Month and more, for each delinquent tenant within your selected portfolio or building.

5. To also view total past due charges and assess late fees on all terminated leases within your selected Portfolio or Building, select the Include Terminated Leases checkbox at the bottom of the table. For ease of identification, line items and charges associated with terminated leases will appear in a shaded purple row.

6. The following is a summary of the field columns displayed within the Late Fee Calculator table:

7. For each line item within the table, you may either apply the Estimated Late Fee owed by the delinquent tenant OR enter an Actual Late Fee that varies from the Estimated Late Fee owed.

5. • To charge the Estimated Late Fee owed, click the green arrow next to the tenant's Estimated Late Fee. The Estimated Late Fee amount will then copy over into the Actual Late Fee column. Alternatively, to view and apply the Estimated Late Fee by charge breakdown, click the Edit link under the Action column for the line item and follow these steps from the pop-up window:

   • 1. Select the unpaid charge(s) to be included in the late fee calculation by selecting the appropriate checkboxes that appear in the Apply Fee column of the Delinquent Charges table. The total late fee charge will then auto-calculate within the Actual Late Fee field.

     2. Click the Save button.

5. • To create an Actual Late Fee charge that varies from the Estimated Late Fee owed, click the Edit link that appears under the Action column and then from the pop-up window, select the unpaid charge(s) to be included in the late fee calculation. Then manually edit the Actual Late Fee total and click Save. Alternatively, you may modify the Late Fee Rule on the individual lease which will change the Estimated Late Fee amount on a going forward basis.

8. Once an Actual Late Fee is saved, it will record as a late fee charge on its respective tenant ledger with a Status of Unpaid Charge (until paid), dated as of the first of the delinquent Month (irregardless of the delinquent charge due day). For example, if a late fee is calculated and assessed on a delinquent rent charge that was due on 4/30/2006, the late fee itself will record on the tenant ledger with a date of 4/1/2006.

9. Similar to other unpaid charges, you may then record a tenant payment to be applied toward your recorded late fee charge.