Re: When is the rent officially late with grace period

Re: When is the rent officially late with grace period by Anonymous on February 6, 2015 @09:53

Rent is due on the 1st and late on the 2nd. A grace period simply allows the tenant to pay late without penalty. On the 6th (assuming your 5-day grace period) the tenant incurs a late fee.

Personally, I don't allow a grace period because invariably every tenant will pay on the last day of the grace period every month. Rent is due on the 1st, late on the 2nd and late fee applies on the 2nd. Easy-peasy. There is never a circumstance which the tenant cannot anticipate and prepare for, including the 1st landing on a holiday or weekend. With ATMs, electronic banking, etc., there is no reason a person cannot pay on the 1st consistently (but somehow can pay on the 5th consistently!).

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Re: When is the rent officially late with grace period by Katiekate (New York) on February 7, 2015 @09:24	[ Reply ]

I agree with you...with one additional item...... I post the quit or pay on the 2nd. It becomes a permanent part of their rental history with me. Any one asking for a reference will be told the number of times the "q or p" was posted. Also..as I stated above...my costs associated with posting the "q or p" are paid by the tenant along with the rent. Just because I can't or won't charge a late fee does not mean the rent wasn't late if paid after the 1st.

Re: When is the rent officially late with grace period by second (wisconsin) on February 2, 2017 @15:38	[ Reply ]

I sure hate for elderly mother or father who depends on government benefits who don't get their Social security until the 3rd of every month. So to answer your question they can pay consistently on the 5 instead of the 1st.

Re: When is the rent officially late with grace period - Landlord Forum thread 330731