Reader Email: Rent Payment Grace Period?
Reader Email: What is the legal grace period on paying rent? Our lease says that it is due on the first of each month, but we normally are not able to pay it until the the 5th or 6th because it takes time for everyone in the unit to transfer money to the one person who writes the rent check. Despite the fact that we always pay, our landlord gets upset when it comes in a few days after the first. Isn't there always a grace period?
Off-Campus Student Living's Response: There is no grace period when it comes to paying rent. It is due on the date that was agreed upon when you signed the lease. Most leases require rent payments on the first of each month. If you are late paying the rent, a landlord may try to charge you an extra fee or late penalty. In order to charge you a late fee, it needs to be written into the lease. If it is not written in the lease, they cannot charge you a penalty fee. Additionally, the landlord cannot collect the late payment penalty until you are at least 30 days late with the rent. Our advice is simply to pay the rent on time, every time. Tenants want good landlords and landlords want good tenants. Avoid the hassle and the headache by getting the rent in on time.