This help article explains how to set up and manage the Grace Balance feature in MagicDoor.

Inside, you'll find:

• Understanding what the Grace Balance is and how it works
• Navigating to the Grace Balance setting
• Setting a minimum unpaid balance threshold for late fees
• Using the Add New Override option to apply lease-specific grace balance values

Use this article as a reference when configuring late fee settings or adjusting thresholds for specific leases.

Step 1: Understand How Grace Balance Works

The Grace Balance is a configurable threshold that tells MagicDoor when to start applying late fees. It defines the maximum unpaid balance a tenant can carry on their ledger after the rent due date before the system automatically generates a late fee.

• If the outstanding balance is equal to or less than the grace balance amount, no late fee is applied.
• If the outstanding balance exceeds the grace balance, the late fee applies.

Most property managers set this to $0.00 by default, so any outstanding amount, even one cent, triggers a late fee. Raising the threshold can help avoid penalizing tenants for minor administrative discrepancies.

Step 2: Navigate to Grace Balance Settings

To configure the Grace Balance, go to the late fee settings in your account.

• Go to Settings.
• Select Late Fee Settings.
• Locate the Grace Balance option.

Step 3: Set Your Grace Balance Threshold

Enter the minimum unpaid balance amount below which late fees will not be applied.

• Type your desired threshold into the Grace Balance field.
• For example, entering $10.00 means a tenant owing $9.99 will not be charged a late fee, only balances above $10.00 will trigger one.

That’s it!

Step 4: Add a Lease-Specific Override (Optional)

If you want to apply a different grace balance to a specific lease without changing your general settings, use the override option.

• Click Add New Override in the top-right corner.
• Choose the setting you want to override.
• Under the Lease Override tab, select the lease you want to adjust and enter the grace balance value for that lease.
• Click Save.

This allows you to keep your general settings intact while applying a custom threshold to individual leases where needed.

Need Help With Grace Balance?

If you have questions about grace balance or late fee settings, our support team is here to help.

👉 Contact us anytime at support@magicdoor.com

📞 Call us at: (888) 887 - 8780 (9:00 AM – 5:00 PM PST)