RichardP13 (California)
Posts: 1,767
Posts: 1,767
Posted:
Do any of your management companies pay themselves for late fees charged against a members accounts?
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Late Fees
Started by RichardP13 • 2 replies • 1242 views
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GlenL (Ohio)
Posts: 5,491
Posts: 5,491
Posted:
No but I have heard of it being done; it depends on what the contract allows. Remember it costs more to deal with delinquencies than a one time entry that the monthly payment was received. Altruistic as they may be Management Companies do need to be paid for their work.
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SteveM9 (Massachusetts)
Posts: 3,699
Posts: 3,699
Posted:
It would make sense that they would pay themselves, its extra work and they don't work for free. But yes, depends on your contract.
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