Does Counselor Realty charge a late fee if it is less than 8% per year?
Counselor_Realty Franchise · 2025 FDDAnswer from 2025 FDD Document
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| (1) Name of Fee | (2) Amount | (3) Due Date | (4) Remarks |
|---|---|---|---|
| Base Monthly Fee | $371 per month | Payable monthly by the 20th day of the month | See Note A |
| Continuing Agent Fee | $32 to $53 per licen |
Source: Item 6 — OTHER FEES (FDD pages 9–13)
What This Means (2025 FDD)
According to Counselor Realty's 2025 Franchise Disclosure Document, a late charge is applied to any overdue amount owed to Counselor Realty. The amount of the late charge is the lesser of 8% per year or the maximum contract rate of interest allowed by law. This late charge is payable when billed.
This means that if a Counselor Realty franchisee fails to pay fees on time, they will be charged interest on the outstanding balance. The interest rate will not exceed 8% per year, but could be lower depending on state law regarding maximum contract interest rates.
It is important for prospective franchisees to be aware of this late fee policy and to ensure that they have sufficient funds to cover all fees owed to Counselor Realty in a timely manner. Failure to do so could result in additional charges and, ultimately, termination of the Franchise Agreement.