Rent Payment Grace Period

How many days do you get of a grace period on the rent payment?

Even though the rent is due at the date described in the lease contract, most landlords or property management companies allow a grace period for the payment of the rent. This time varies from landlord to landlord and from property management company to another, but most of the time this could be between 3 to 5 days after the rent is due.

Neither the landlord nor the property management company are obligated to grant a grace period unless it is clearly specified in the lease contract.

Some tenants wait until the last minute to pay for their rent and sometimes they do it on the last day of the grace period or on a later day. Most of these tenants, presume than the due date for the rent is the end of the grace period. However, this is a wrong assumption since the grace period is a courtesy time given to the tenants in case the rent does not reach the landlord or property management company on the due date specified in the contract.