Late fees and your grace period

A late fee that depends on somebody remembering to add it on the third is a late fee applied inconsistently — and inconsistency is what gets challenged. Villagely assesses it from your own settings.

• A grace period in days, counted from the due date
• A flat fee or a percentage of the outstanding balance
• A cap, so a long-overdue balance does not compound indefinitely

Nothing is late until the grace period has passed. When it does, the fee posts to the ledger with a breakdown the resident can read.