What is the latest day of the month that the Base Monthly Fee is payable for Counselor Realty?
Counselor_Realty Franchise · 2025 FDDAnswer from 2025 FDD Document
| (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 |
Source: Item 6 — OTHER FEES (FDD pages 9–13)
What This Means (2025 FDD)
According to Counselor Realty's 2025 Franchise Disclosure Document, the Base Monthly Fee is due by the 20th day of each month. This fee is set at $371 per month. This means that as a Counselor Realty franchisee, you must ensure that the $371 Base Monthly Fee is received by the franchisor on or before the 20th of each month to avoid potential late charges or other penalties.
It is important to note that this due date applies specifically to the Base Monthly Fee. Other fees, such as the Continuing Agent Fee, Website Fee, and Mobile App Fee, also have specific due dates, often tied to invoices sent by Counselor Realty. Paying attention to these different due dates is crucial for maintaining good standing with the franchisor.
Missing the payment deadline for the Base Monthly Fee can result in late charges. The FDD specifies that Counselor Realty may charge interest on overdue amounts at a rate of the lesser of 8% per year or the maximum contract rate of interest allowed by law in the state where the business operates. Consistently late payments can also be grounds for termination of the Franchise Agreement, as detailed in Item 17 of the FDD. Therefore, franchisees should prioritize timely payment of all fees to avoid these potential consequences.