What late charge does Remax assess for failing to submit reports by their due date?
Remax Franchise · 2025 FDDAnswer from 2025 FDD Document
ed under applicable law, then at the highest rate legally permitted. If we or REMAX, LLC are ever deemed to have contracted for, charged or received interest on any overdue sums in an amount that exceeds the amount permitted under applicable law, then such excess amount
Source: Item 22 — Contracts (FDD pages 108–334)
What This Means (2025 FDD)
According to Remax's 2025 Franchise Disclosure Document, if a franchisee fails to submit reports by their due date, Remax will assess a late charge. This late charge is $100 per day until the reports are submitted. This fee is intended to compensate Remax for the additional administrative costs and expenses they incur due to the late submission of the reports.
This daily late fee can quickly add up, creating a significant financial burden for franchisees who are consistently late with their report submissions. For example, if a franchisee is 10 days late submitting a report, they would owe Remax $1,000 in late charges. It is crucial for franchisees to prioritize timely report submission to avoid these penalties.
Franchisees should ensure they understand exactly what reports are required, when they are due, and the approved methods for submitting them. Setting up reminders and internal controls can help franchisees avoid these late fees and maintain a good financial standing with Remax. Section 10 of the agreement may also provide additional information regarding report requirements.