AppFolio Adds Late Fee Customization!

Finally! You can now update and adjust your late fees based on a max allowable charge. This way you can charge daily late fees without exceeding a total monthly amount set by you.

Add or Update Late Fee Settings

Late fee settings are established at the property and occupant level:

• Property or Association Page — Settings here establish the defaults for new tenants or homeowners when they are moved in. Updating at the property level does not affect current occupants.
• Tenant or Homeowner (Occupant) Page — When posting late fees, the system looks at the settings on this page. These can differ from the property-level settings.

Late Fee Types

Flat Fee

A flat, fixed amount charged if the unpaid balance subject to late fees is greater than the Grace Balance. This fee is only charged once per month, regardless of how many charges are subject to late fees.

Percent of Monthly Owed

A percentage of the total recurring charges owed per month, plus any unpaid charges within the grace period, minus available credits.

Percent of Monthly Rent/Dues Charge

A percentage of monthly rent or dues charge only, minus available credits. This does not include other charges.

Percent of Total Owed

A percentage of the total balance owed at the end of the grace period, minus available credits. This setting will also look to the past month.

Max Charge Cap

The new max allowable charge feature lets you set a ceiling on late fees so daily charges don't exceed a monthly maximum — keeping you compliant with local regulations while still incentivizing on-time payment.