Effectively manage overdue payments and implement collection strategies to maintain cash flow.
Dashboard Overview
The main dashboard displays late payment alerts with red indicators for overdue accounts.
Payment Status Filters
Use the payment status filter to view only overdue payments, sorted by days past due.
Automated Notifications
Receive daily email summaries of all accounts that have become overdue in the past 24 hours.
Grace Period: Configure grace periods (typically 3-5 days) before marking payments as officially late to account for processing delays.
Automated email reminders
SMS
Text message alerts
Portal
In-app notifications
Flat Fee
Fixed amount (e.g., $50) regardless of rent amount
Percentage Fee
Percentage of monthly rent (e.g., 5%)
Daily Fee
Daily charges after grace period (e.g., $5/day)
Tiered Fees
Increasing fees based on days overdue
Assess Financial Situation
Review resident's payment history and current circumstances to determine appropriate plan terms.
Create Payment Schedule
Set up a realistic payment schedule that works for both parties, typically splitting overdue amount over 2-6 months.
Document Agreement
Create written payment plan agreement with clear terms, consequences, and signatures from both parties.
Monitor Compliance
Track payment plan adherence and be prepared to take action if terms are not met.
Best Practice: Review late payment reports monthly to identify patterns and adjust collection strategies accordingly.