What happens if a tenant does not send their rent on time or if a tenant makes a partial payment?
If RentometerPro does not receive a rent payment on time, we will alert you that the payments was not received on time and after your specified grace period, we will automatically send the tenant a late payment reminder with a payment coupon and payment envelope. If you’re lease agreement includes late fees, RentometerPro will automatically calculate the late fee and include it in the next invoice. If a tenant makes a partial rent payment, RentometerPro will accept the payment, alert you of the payment status, calculate any required late fees, update your accounting ledger and status reports, automatically send out a late payment reminder and automatically update the next invoice.
