Late fees and grace periods

The fee comes from a rule

An organisation sets one active late-fee policy. Fees are assessed from that policy, so the same lateness produces the same fee for every tenant.

Changing the policy means creating a new one; the most recent active policy is the one in force.

What a policy sets

• A grace period in days, from nothing up to ninety.
• Either a flat amount or a percentage of the overdue balance.
• An optional cap on the fee itself.
• A minimum balance, at or below which no fee is charged.
• Whether it applies to rent, to other charges, or to both.

When no fee is charged

Nothing is charged while you are inside the grace period, when nothing is outstanding, when the balance is at or below the minimum, or when the rule computes to nothing. Each of those produces a stated reason rather than a silent skip.

A late fee never attracts a late fee of its own.

Assessing only ever raises

The assessment run can raise a fee. It cannot reduce, waive or reverse one, and it will not charge the same overdue item twice for the same assessment date.

Waiving a fee

Waiving requires accounting rights and a written reason, both recorded. It posts a reversing entry rather than deleting the charge, so the fee and its cancellation both remain visible.