How to Set Up Per Day Late Fees in Baselane's Rent Collection Tool

Baselane’s Rent Collection Tool now supports per-day late fees to help automate managing late rent payments. When setting up rent collection for your property, follow these steps to set up recurring late fees.

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How to Add Per Day Late Fees

Setting Up Per Day Late Fees in Baselane's Rent Collection Tool

Navigate to the Rent Collection Tab
Log in to your Baselane account, go to the Rent Collection tab, and select Set Up Rent Collection.

Select Your Property and Unit
You can choose the property and unit for which you want to set up a rent collection.

Enter Rent Collection Details
In Step 2 of the setup process, enter the rent collection details, including the rent amount and due date.

Add Late Fees
Under the “Rent is Due On” section, click Add Late Fee.

• To set up an Initial Late Fee, choose the fee type (either a $ amount or a % of rent).

• Enter the fee amount and specify the days after the rent due date that the fee will take effect.

• For example, you can apply an Initial Late Fee of $50 starting 6 days after the due date.

Enable and Set Per Day Late Fees
Toggle on the Per Day Late Fee option. Note that an Initial Late Fee must be set first.

• Define the Per Day Late Fee by entering a $ amount or a % of the rent.
• Optionally, set a Monthly Maximum Late Fee. This cap includes the Initial Late Fee and limits the total amount that can accrue in a month.

Example Setup

• Initial Late Fee: $50, applied 6 days after the rent due date.
• Per Day Late Fee: $5 per day for each overdue day.
• Maximum Monthly Late Fee: $100, which includes the initial fee.

Save and Complete Rent Collection Setup
After entering all the details, click Save Fee and proceed to complete the remaining steps in the Rent Collection setup process.

Adding Per Day Late Fees to an Existing Rent Collection Setup

If you have an active lease and want to add per day late fees, follow these steps:

1. Navigate to Rent Collection
   Log in to your Baselane account and go to the Rent Collection tab.
   
   

2. Select the Existing Lease
   Click on the lease where you want to add per day late fees.

3. Update Rent Collection Terms
   In the lease details, go to Rent Collection Terms.
   

4. Add or Edit Late Fees

   • Click Edit Terms.
   • Scroll down until you see "Add Late Fee" under the "Rent is due on" section.
   • If there's an existing one-time late fee, click the trash icon to delete it.
   • Then, re-add the per day late fee by following the steps mentioned earlier in the article.
   • Select Save Fees

   
   
   
   
   

5. Save Updated Terms 
   Click Save Changes to update your rent collection terms, which is located at the bottom of the rent collection details drawer.

Frequently Asked Questions

Can you have daily late fees without an initial late fee?
No. Landlords must set an initial late fee to use daily late fees. Setting a Monthly Maximum Late Fee is optional.

What is the maximum late fee a landlord can charge?
Baselane does not impose any limits. Landlords should check their state laws to ensure compliance.

Can daily late fees be added to existing rent collections? 
Yes, landlords can update late fees for existing rent collections. Tenants will be notified of the changes.

Can landlords waive daily late fees without removing the Initial Late Fee?
Yes, landlords can remove individual per-day late Fees from overdue invoices without affecting the Initial Late Fee. Each late fee is treated independently.