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Quote: "in the event is not paid by the first day after due date, tenant agrees to pay a late charge of 50.00. Your question;
So if I don't get the rent by tomorrow it's late, if I get it tomorrow it's not late? Answer: To my way of thinking, being a native English speaker and having a degree in English (but sometimes speaking gibberish), you are correct in your understanding. What I put in my RA is this--you can see I have some flexibility or grace period of one day:
Rent due/Late Consequences:
Rent is due on the 1st day of each month to pay for the immediate upcoming days of the upcoming month. Rent is LATE on the third day of the month (i.e. rent is late on January 3, February 3, March 3, April 3, May 3, etc). The Owner(s)/ Landlord/ Management expects to RECEIVE the rent before the late date.
Should the rent be late for any and all reasons, including exceptional circumstances, that prevent prompt payment, Tenant will pay a late fee of $20.00 for the first 10 days of non- payment. If rent and late fee are not paid by the twelfth day of the month, this Rental Agreement will be terminated at the discretion of the Owner(s)/Landlord/Management and Tenant will vacate the premises.
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So far, it's worked well for me. HTH
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