The minimum lease balance is used only in the calculation of late charges with a Late Charge type of Fee and a Frequency of Monthly. If those two conditions are true, the Late Charge process will compare the Lease balance to the Minimum lease balance and create a charge only if the Lease balance is greater than the Minimum lease balance.

The Lease balance will be as of the Next fee date (or the Charge Date, if there is no Next fee date) plus the Grace days. For example, if your Next fee date is 6/01/2016 and you have 10 grace days, the Lease balance on 6/10/2016 will be compared to the Minimum lease balance to determine whether or not to charge a fee.

The Lease balance calculation includes all items (charges and credits) on the lease, not just the items that are marked subject to late charges.

If you have only one charge type that is subject to late charges, and your late charge Repeat Factor is Once/Delinquent Pmt, then you can use the following workaround to create a formula and use it in the Subject To formula on the late charge setup.

This example formula is for the Charge Type of RENT and a minimum balance of $50. If your Charge Type or minimum balance amount is different, you will need to make those adjustments to the formula:

1. In Property Management, from the Tools menu, select Formulas.
2. Click New.
3. Click Index.
4. Select PM - Open Item.
5. Click OK. 
6. Create the following formula: 
   • IF(Summary Charge Type [PM Open Item] = "RENT", Charge Amount [PM Open Item] + Credit Amount [PM Open Item]) >= 50
   • Note: Summary Charge Type, Charge Amount, and Credit Amount are fields on the PM Open Item table. You will type the rest of the text in the formula but select those three fields from the PM Open Item field list. 
7. Click OK and enter a formula name, such as LC-RENT bal >= 50 
8. Click OK. 
9. Click Close. 
10. Tasks, Manage Leases, Change Lease. 
11. Select the lease. 
12. Select the Late Chgs tab. 
13. Select the late charge step tab that it should be applied to. (If you only have one late charge step, select Step 1.) 
14. In the 'Subject To' formula field, select the formula that was created from above. 
15. Add to any other leases as needed. 
16. Click Close.

Property Management Late Charges