Help Center - For Landlord
How to set up a grace period?
A grace period allows payment to be received for a certain period of time after the actual due date. During this period, no late fees are charged, and the late payment does not result in default or cancellation of the invoice. A default grace period is 5 days.
To change the default period of time, go to "Accounting Settings" from the main "Settings" menu:
Take a look at the Global rent late fee settings and choose the number of days for a grace period. Press "Update" to complete the process:
Please note: if grace period is "None" and due day 1st, late fees would be posted on the 1st if full payment is not initiated by 5 p.m. If Grace period is "1 day" and due day 1st, late fees would be posted on the 2nd if full payment is not initiated by 5 p.m etc...
May. 7th, 2019