What happens if a PM misses an invoice payment deadline?

If a PM fails to pay their invoice by the end of the grace period (25th of the month), the outstanding balance will be considered late. However, the late fee will only be applied on the first day of the following month. For example, if a PM misses the payment deadline for their January invoice, the late fee will be added to their account on February 1st, and the outstanding balance, including the late fee, will be added to their February invoice as a 'Rolled Over' amount. We encourage PMs to reach out to our billing team at billing@steady.rent if they anticipate any payment delays to discuss potential accommodations or payment plans.