SOP Late Fee and NSF Handling
Entrata properties are setup to have the late fees charge when the office opens. This should allow for the site to enter payments from the previous night before the late fees trigger.
Reversal of Late Fees can only occur in the following situations (Request submitted to helpdesk):
- Late fees are charged incorrectly due to a setup error (wrong late schedule assigned to resident, incorrect scheduled charges setup etc).
- Late fees are charged because a payment was accepted on time but not entered into the system.
- Late fees are charged due to a system error. A detailed explanation must be included with the helpdesk request for reversal to allow for verification and correction of the system error.
Waiving of Late Fees
- Residents can only have the late fees waived through the date the resident is notified. This will generally only be the initial late fee and not daily late fees.
- Residents can only have their initial late fee waived 1 time per contract. No multiple waiving of any late fees during the same contract.
- Late fees must be waived by entering an offsetting credit to the account (WVLATEFEE or LATEFEEWV) with a detailed reason.
- All waiving of late fees MUST be approved by the manager.
- An entry into the activity log must be made when waiving a late fee.
HRA is charged the NSF fee regardless of whether we pass that fee along to the resident. For that reason, NSF fees should rarely be waived and never reversed.
- NSF fees should only be waived if the site is at fault for the NSF. Incorrect account information is the fault of the resident and not grounds for waiving UNLESS the site has entered the payment information. Residents should be HEAVILY encouraged to enter their own online payments, with site assistance if necessary.
- NSF fees must be waived by entering an offsetting credit to the account (YES) with a detailed reason.
- Waiving a NSF fee as part of “Above and Beyond” is discouraged in most cases. If an exception is made, a detailed description must be left and noted in the activity log and requires manager approval.