Re: Use of Grace period (NJ) - Landlord Forum thread 336835

Re: Use of Grace period (NJ) by Garry (Iowa) on July 1, 2015 @22:03

If any state has a minimum grace period in their LL/T codes, or if any LL has a grace period in their OWN lease, then no T is "late" until the grace period is up. I give my Ts 2 days grace period-----rent is due on the 1st, they have the 2nd and 3rd to get it to me, and I charge a $12 late fee , per day, starting on the 4th, with a max of $60/mo----(the 12/60 is max by Ia law.) Check your mortgages-----many of them give us owners a 14-15 day grace period, before they charge us a late fee.

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