no more grace period
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no more grace period (by David [MI]) Oct 13, 2020 5:35 PM
       no more grace period (by plenty [MO]) Oct 13, 2020 5:44 PM
       no more grace period (by WMH [NC]) Oct 13, 2020 5:50 PM
       no more grace period (by Jeff [CO]) Oct 13, 2020 6:19 PM
       no more grace period (by Alan [CA]) Oct 13, 2020 6:27 PM
       no more grace period (by Kurt [MI]) Oct 13, 2020 6:37 PM
       no more grace period (by Robert J [CA]) Oct 13, 2020 7:12 PM
       no more grace period (by OPM [OR]) Oct 13, 2020 7:13 PM
       no more grace period (by Bill [KY]) Oct 13, 2020 7:13 PM
       no more grace period (by Lynn [MA]) Oct 13, 2020 7:18 PM
       no more grace period (by PG [SC]) Oct 13, 2020 7:36 PM
       no more grace period (by ned [AL]) Oct 13, 2020 8:09 PM
       no more grace period (by Bonanza [NC]) Oct 13, 2020 8:11 PM
       no more grace period (by Ned [AL]) Oct 13, 2020 8:11 PM
       no more grace period (by Dee Ann [WI]) Oct 13, 2020 10:31 PM
       no more grace period (by Hoosier [IN]) Oct 14, 2020 1:30 AM
       no more grace period (by BRAD 20,000 [IN]) Oct 14, 2020 1:31 AM
       no more grace period (by Steve [MA]) Oct 14, 2020 5:59 AM
       no more grace period (by David [MI]) Oct 14, 2020 6:52 AM
       no more grace period (by David [MI]) Oct 14, 2020 6:54 AM
       no more grace period (by gevans [SC]) Oct 14, 2020 7:26 AM
       no more grace period (by Sir Walter [NC]) Oct 14, 2020 10:08 AM
       no more grace period (by LisaFL [FL]) Oct 14, 2020 12:07 PM
       no more grace period (by 6x6 [TN]) Oct 14, 2020 6:07 PM
       no more grace period (by WMH [NC]) Oct 14, 2020 6:14 PM
       no more grace period (by Vee [OH]) Oct 14, 2020 6:28 PM
       no more grace period (by BRAD 20,000 [IN]) Oct 15, 2020 12:24 AM
       no more grace period (by myob [GA]) Oct 16, 2020 8:52 AM

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no more grace period (by David [MI]) Posted on: Oct 13, 2020 5:35 PM
Message:

finally, I removed the five-day grace period from my lease. Now the $20 per day late fee (capped at $200) starts on the 1st , regardless if it falls on weekend or holiday.

--50.4.xxx.x




no more grace period (by plenty [MO]) Posted on: Oct 13, 2020 5:44 PM
Message:

No grace period for me either and i let them pick their rent due date so no excuses! --172.56.xx.xx




no more grace period (by WMH [NC]) Posted on: Oct 13, 2020 5:50 PM
Message:

We give them MULTIPLE ways to pay, even when the bank is closed. No grace period for many years now: why have one? Back in the only post office days maybe okay. Not these days. --50.82.xxx.xxx




no more grace period (by Jeff [CO]) Posted on: Oct 13, 2020 6:19 PM
Message:

I am surprised that any landlord allows a grace period. --76.120.xx.xxx




no more grace period (by Alan [CA]) Posted on: Oct 13, 2020 6:27 PM
Message:

Used to give them - prior to having direct deposit of rents. --71.198.xxx.xxx




no more grace period (by Kurt [MI]) Posted on: Oct 13, 2020 6:37 PM
Message:

Don't use grace periods. Our judge only allows $25 late fee per month. Though the position is up for election this year. --217.138.xxx.xx




no more grace period (by Robert J [CA]) Posted on: Oct 13, 2020 7:12 PM
Message:

My City, Los Angeles, moved to remove weekends or holidays from counting "days" for the purposes of notices. So a 3 Day Notice means up to a week. Plus tenants have longer to respond to official court summons, instead of 5 days they have up to 15 days, excluding all weekends and holidays -- giving a tenant up 20 somes days to reply....and so on...

If I dare pay a City/County bill late, sometimes I'll loose the ability to evict until those bills are paid! The deck are stacked against landlords... --47.155.xx.xxx




no more grace period (by OPM [OR]) Posted on: Oct 13, 2020 7:13 PM
Message:

I'd guess what if your state law says there is one? --162.247.xx.xx




no more grace period (by Bill [KY]) Posted on: Oct 13, 2020 7:13 PM
Message:

David-MI, any particular reason that spurred the action? Iíve never charged one but would if a tenant became habitually late. Iíve been pretty flexible, perhaps because my few are paid off and Iíve never had an issue. If I was carrying a mortgage, however, there would be no grace period. Just curious what prompted this for you. Great job.

--75.90.xxx.xx




no more grace period (by Lynn [MA]) Posted on: Oct 13, 2020 7:18 PM
Message:

In MA you can't charge a late fee unless its more than 30 days late. --66.30.xx.xx




no more grace period (by PG [SC]) Posted on: Oct 13, 2020 7:36 PM
Message:

For the last 6 or 7 years I have used the No grace period - due on the first - late on 2cd - $10 per day up to 10% of the rent. Tenants are more timely with payments.

I used to use a grace period - I think I read about No Grace Period on Mr LL --99.197.xxx.xxx




no more grace period (by ned [AL]) Posted on: Oct 13, 2020 8:09 PM
Message:

Whether I carried a mortgage or not wouldn't affect whether I'd charge late fees.

Grace period- nope.

All it does is add confusion for a tenant that most often does not need confused. --70.92.xx.xx




no more grace period (by Bonanza [NC]) Posted on: Oct 13, 2020 8:11 PM
Message:

@WMH (NC) How do you avoid NCGS 42-46? Are you just ignoring it? sort of a don't ask don't tell policy?

Summary below.

Under North Carolina law, a late fee when rent is due monthly cannot be higher than $15 or 5% of the rental payment, whichever is greater, and may not be imposed until the rent is 5 days late. A late fee may be imposed only one time for each late rental payment. --65.188.xxx.xxx




no more grace period (by Ned [AL]) Posted on: Oct 13, 2020 8:11 PM
Message:

Only GOOD thing about having a grace period, is it offers a very non-confrontational opportunity to say-

"Hey... calling because your rent is late...but as long as you make it before the grace period is up, there are no late fees".

That being said, this one benefit to me wasn't worth the extra confusion. --70.92.xx.xx




no more grace period (by Dee Ann [WI]) Posted on: Oct 13, 2020 10:31 PM
Message:

Our lease requires rent payment to be to us by the last day of the month prior to the month payment is for. I will accept a check anytime prior to rent being due. My promise to my tenant is that a chek will not be deposited before the 1st.

Getting the checks earlier than the 1st helps me stay organized, post the rent and sign the back of the checks for mobil deposit. It allows me to determine any missing rent and to send a reminder that a late fee can be avoided if they get the payment to me before the end of the day.

It's polite and works well. Don't usually have to send a reminder. Another plus, I get the Zelle payments straight to the bank, so a day before the 1st. --75.11.xx.xx




no more grace period (by Hoosier [IN]) Posted on: Oct 14, 2020 1:30 AM
Message:

No grace period here. We get $40-$60/mo in late fees but Iíd rather have the funds on time....one reason we are moving to ClearNow. --99.92.xxx.xxx




no more grace period (by BRAD 20,000 [IN]) Posted on: Oct 14, 2020 1:31 AM
Message:

David,

Congrats on making the change!

And Welcome to the 20th Century! We've been promoting that for YEARS, since dial up MrLL.

BRAD --73.102.xxx.xxx




no more grace period (by Steve [MA]) Posted on: Oct 14, 2020 5:59 AM
Message:

As stated in all of our rental agreements, our rents are due in full on or before the first of each month. We do make allowances for the portion of our S8 tenants that is paid by their PHA but the tenant's portion is still due on or before the first.

Unfortunately in MA a LL can't charge a late fee until the rent is 30 days late by which time most smart LLs have already started the eviction process by issuing a 14 day notice to quit for non payment of rent. --71.174.xxx.xx




no more grace period (by David [MI]) Posted on: Oct 14, 2020 6:52 AM
Message:

Bill KY, I realized that a grace period doesn't really help on time tenants because their money won't leave their bank account until I get the check. so even though they will now mail check on the 27 or 28, they keep the money until I receive.

But the tenants that may be tenants gone bad, those grace period days eat into how early I file for eviction. Of course I could post notice on the 2nd ,grace period or no, but it seems silly if there's a grace period --50.4.xxx.x




no more grace period (by David [MI]) Posted on: Oct 14, 2020 6:54 AM
Message:

As for what law allows for late fees, my view is this. If you don't follow security deposit law, penalty can be treble damages. But if you don't follow late fee law, well, if the tenant is still willing to pay, no one will know. If it goes to court, the worst is that the judge will not allow the late fees on the rent owed.

I don't ask for their first born, just $20 a day . I never had a tenant complain about late fees, nor have I had to goto court --50.4.xxx.x




no more grace period (by gevans [SC]) Posted on: Oct 14, 2020 7:26 AM
Message:

SC requires 5 days grace...

So I offer an "early payment discount" for those that pay prior to the first.

It is not so coincidentally equal to 5 days of late fees. I charge $10/day late fee for my class Bs, $5 for my class Cs. --69.80.xx.xx




no more grace period (by Sir Walter [NC]) Posted on: Oct 14, 2020 10:08 AM
Message:

Bonanza,

NCGS 42-46 does not require that a landlord give a grace period. It only requires that a late fee not be imposed until 5 days or more after rent is late.

This is distinct from what I believe WMH and a lot of other landlords are doing in declaring that rent is due on date X and late after that. This also is legal. NCGS 42-3 allows a landlord to file for eviction 10 days after rent is due and unpaid. By not allowing a grace period, a landlord can, in theory, file for eviction 5 days sooner than those who have a grace period.

A number of apartment complexes follow a version of the apartment association lease. At least a few years ago, those did not have a grace period.

See www.nolo.com/legal-encyclopedia/eviction-notices-nonpayment-rent-north-carolina DOT html for more information, but get your own legal advice. --98.122.xxx.xx




no more grace period (by LisaFL [FL]) Posted on: Oct 14, 2020 12:07 PM
Message:

I donít do grace periods. I also use Clearnow. There is a $10 fee for paying outside of Clearnow as well. If tenant stops their Clearnow payment or it fails more than once in a six month period it is grounds for lease termination as well.

Nobody has ever balked about paying late fees.

--75.89.xxx.xxx




no more grace period (by 6x6 [TN]) Posted on: Oct 14, 2020 6:07 PM
Message:

I was going to ask about the state laws requiring a 5 day grace period but I think that Sir Walter just answered that.

I will ask this instead,

Does it say in your lease that there is no grace period?

Also, I thought the law gave credit for weekends and holidays?

I do believe they should change that though. In fact, it should have never been there in the first place as it is all spelled out in the lease and most times mentioned and very obvious well in advance when the due date is. I don't know why the government insist on letting people get by with excuses as that is all they ever really are. --73.120.xx.xxx




no more grace period (by WMH [NC]) Posted on: Oct 14, 2020 6:14 PM
Message:

NCGS 42-46 does not require that a landlord give a grace period. It only requires that a late fee not be imposed until 5 days or more after rent is late.

This is distinct from what I believe WMH and a lot of other landlords are doing in declaring that rent is due on date X and late after that. This also is legal. NCGS 42-3 allows a landlord to file for eviction 10 days after rent is due and unpaid. By not allowing a grace period, a landlord can, in theory, file for eviction 5 days sooner than those who have a grace period.

Exactly. --50.82.xxx.xxx




no more grace period (by Vee [OH]) Posted on: Oct 14, 2020 6:28 PM
Message:

Grace never should have been mentioned in a lease, she was a villian in biblical times when jumping from town to town with merlin the magician escaping the roadmen of pontious pilot who should never be mentioned in a lease either.... --76.188.xxx.xxx




no more grace period (by BRAD 20,000 [IN]) Posted on: Oct 15, 2020 12:24 AM
Message:

Back in the Ď90ís when we had only 55 units i sent a letter to all residents eliminating the grace period (which everyone had told me ďis standardĒ).

Not a single person complained and all our rents came in on time. Before this they dribbled in over 5 days plus a weekend so sometimes 7 days.

Back when we accepted personal checks we would not know their payment bounced until the last week of the month so we lost a month even before eviction.

In Indiana we can file for eviction THE DAY the rent is late. With luck on the calendar we can get the house back by the end of that month.

A proper lease MUST state the due date and when the late fee begins. GOTTA be spelled out or itís up to a judgeís mood that day.

BRAD --73.102.xxx.xxx




no more grace period (by myob [GA]) Posted on: Oct 16, 2020 8:52 AM
Message:

Hoosier IN I got a kick out of not worth it part of your post. Nothing is ever worth it untiul you compound it.

$50.00 X 12 months X's 10 years? Worth it now? --99.103.xxx.xxx



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