Late rent fee.. : ezLandlordForms

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Eric W

started a topic over 5 years ago

My tenants rent was due on the 1st, there is a 3 day grace period I allow. I spoke with her last night through text and she said she would drop it off tonight, so if she doesn’t, when would I apply a late rent fee..now or after the grace period? Also, should I send out a late notice tmrw or after the grace period? I’ve seen so many conflicting things in this. Next lease will not allow a grace period! Thanks so much

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Scott H

said over 5 years ago

If you have a three day grace period. The late fee should be added if not payed by midnight on the forth. Due on the first, the 2nd is day 1 of the grace period, 3rd is day 2, and the 4th is day 3. Send the late notice/ pay or quit on the fifth.

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Gary S

said over 5 years ago

I combine the two notices together. Here in TN we have a five day grace period. If the rent is not paid by the 6th, they will receive a notice to pay or quit which includes the late fee.