Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
My rent has always be due on the 1st and had a grace period by the 5th.
Now my rent will be a tad bit late for April because I get paid on April 5th so why would I take the rent out of the 3/22 check? So since i will paid on the 5th they won't get it until the 6th.
Shouldn't matter anyway since it's my last rent payment
Your rent is late if you pay during the grace period (all though there are some technicalities.) Your LL could have given you a bad reference, thus making it difficult for you to qualify for a new rental.
Your rent is late if you pay during the grace period (all though there are some technicalities.) Your LL could have given you a bad reference, thus making it difficult for you to qualify for a new rental.
When a tenant pays on time for 7 years they have the flexibility of paying on the 5th/6th because the landlord knows it's coming.
When a tenant pays on time for 7 years they have the flexibility of paying on the 5th/6th because the landlord knows it's coming.
No. When a tenant pays on time for a long period, some landlords will allow for a late payment here and there to slide without adding a late fee but this is absolutely not something any tenant should take for granted. A landlord with only a couple of rentals will sometimes be more flexible than a landlord with multiple units or a property management company. In the latter instances where everything is computerized, a late payment fee will immediately be added automatically if the payment isn't received within the grace period.
A tenant doesn't have any flexibility where payment of rent is concerned; a landlord can be flexible if he or she chooses to be so. You got it the wrong way around. And, as has been noted before, a payment within the grace period after the due date is still a late payment even though the late charge isn't assessed.
When a tenant pays on time for 7 years they have the flexibility of paying on the 5th/6th because the landlord knows it's coming.
Should you ever attempt to finance a home, especially for someone with limited credit, than you would need to prove your rent was paid on time for 2 years, and paying in the grace period is considered late. Perhaps you can't forsee that scenario, but this is an ideal time to buy for many.
No. When a tenant pays on time for a long period, some landlords will allow for a late payment here and there to slide without adding a late fee but this is absolutely not something any tenant should take for granted. A landlord with only a couple of rentals will sometimes be more flexible than a landlord with multiple units or a property management company. In the latter instances where everything is computerized, a late payment fee will immediately be added automatically if the payment isn't received within the grace period.
A tenant doesn't have any flexibility where payment of rent is concerned; a landlord can be flexible if he or she chooses to be so. You got it the wrong way around. And, as has been noted before, a payment within the grace period after the due date is still a late payment even though the late charge isn't assessed.
Well it shouldn't be because everyone has different pay dates and pay rent based on how the money comes in toward the end the month. So that's why I thought the grace period was there in the first place.
Should you ever attempt to finance a home, especially for someone with limited credit, than you would need to prove your rent was paid on time for 2 years, and paying in the grace period is considered late. Perhaps you can't forsee that scenario, but this is an ideal time to buy for many.
If it's considered late during the grace period then why is there no late fee????
Well it shouldn't be because everyone has different pay dates and pay rent based on how the money comes in toward the end the month. So that's why I thought the grace period was there in the first place.
Most people know how to budget regardless of when they're paid. The grace period has nothing to do with when a tenant is paid. That's up to the landlord. This excerpt might help you understand:
"Unless the lease or rental agreement specifies otherwise, in most states there is no legally recognized grace period -- in other words, if a tenant hasn't paid the rent on time, the landlord can usually deliver a "pay or quit" notice the day after it is due. However, some leases and rental agreements do provide a five-day grace period for late rent.
Similarly, there is no legally recognized day that rent is due. Often rent is due on the first day of the month, but it is legal for a landlord to require rent to be paid on a different day of the month or at intervals other than monthly.
Some landlords charge fees for late payment of rent or for bounced checks; these fees are usually legal if they are reasonable. The laws on late fees can be found in your state's landlord-tenant statutes."
Quote:
Originally Posted by WestPhillyDude75
If it's considered late during the grace period then why is there no late fee????
Because it's a "grace period". Here's a definition of it for you:
"A grace period is a time past the deadline for an obligation during which a late penalty that would have been imposed is waived. ...."
You should really read your state landlord tenant laws so that you have a better understanding of the landlord tenant relationship and the legal responsibilities of the parties involved.
Most people know how to budget regardless of when they're paid. The grace period has nothing to do with when a tenant is paid. That's up to the landlord. This excerpt might help you understand:
"Unless the lease or rental agreement specifies otherwise, in most states there is no legally recognized grace period -- in other words, if a tenant hasn't paid the rent on time, the landlord can usually deliver a "pay or quit" notice the day after it is due. However, some leases and rental agreements do provide a five-day grace period for late rent.
Similarly, there is no legally recognized day that rent is due. Often rent is due on the first day of the month, but it is legal for a landlord to require rent to be paid on a different day of the month or at intervals other than monthly.
Some landlords charge fees for late payment of rent or for bounced checks; these fees are usually legal if they are reasonable. The laws on late fees can be found in your state's landlord-tenant statutes."
Because it's a "grace period". Here's a definition of it for you:
"A grace period is a time past the deadline for an obligation during which a late penalty that would have been imposed is waived. ...."
You should really read your state landlord tenant laws so that you have a better understanding of the landlord tenant relationship and the legal responsibilities of the parties involved.
well if i get paid on 3/22 no way am I paying rent out of that check. Way too early
Should you ever attempt to finance a home, especially for someone with limited credit, than you would need to prove your rent was paid on time for 2 years, and paying in the grace period is considered late. Perhaps you can't forsee that scenario, but this is an ideal time to buy for many.
Exactly, I get rental reference requests all the time that ask how many times a tenant was 1-5 days late, 6-10 days late, 11-30 days late, and 31+ days late. Tenants don't understand when they rented for a year and paid during the grace period all 12 months that they were late "1-5 days" 12 times.
Quote:
Originally Posted by WestPhillyDude75
Well it shouldn't be because everyone has different pay dates and pay rent based on how the money comes in toward the end the month. So that's why I thought the grace period was there in the first place.
The grace period is there because life happens. You mail your rent on time, but it sits in your mailbox for 2 days because the mailman didn't see it. Or you are out of town and forget to mail it. It gives you a couple extra days for those "oops, I messed up" OCCASIONAL mishaps. Not so you can consistantly pay on the last day of the grace period.
Beyond that, as others have said, learn to budget. You mentioned that you have a paycheck on the 22nd you could have taken the rent from, but instead are waiting to get paid on the 5th to pay rent. That indicates you get paid every 2 weeks. That means that twice a year, you get an EXTRA paycheck. Instead of blowing that money, use it to get 2 weeks ahead on all your bills. Then the next time you get that extra check, you'll find yourself with enough that you have a full month of cushion. It is amazing how much less stressful life is when you have padding in your account and don't have to live paycheck to paycheck. (You don't have to PAY the bills a month early, but having the money available to pay everything at least on time makes life so much better)
Quote:
Originally Posted by WestPhillyDude75
If it's considered late during the grace period then why is there no late fee????
There is a late fee. They just waive it during the grace period.
Exactly, I get rental reference requests all the time that ask how many times a tenant was 1-5 days late, 6-10 days late, 11-30 days late, and 31+ days late. Tenants don't understand when they rented for a year and paid during the grace period all 12 months that they were late "1-5 days" 12 times.
The grace period is there because life happens. You mail your rent on time, but it sits in your mailbox for 2 days because the mailman didn't see it. Or you are out of town and forget to mail it. It gives you a couple extra days for those "oops, I messed up" OCCASIONAL mishaps. Not so you can consistantly pay on the last day of the grace period.
Beyond that, as others have said, learn to budget. You mentioned that you have a paycheck on the 22nd you could have taken the rent from, but instead are waiting to get paid on the 5th to pay rent. That indicates you get paid every 2 weeks. That means that 4 times a year, you get an EXTRA paycheck. Instead of blowing that money, use it to get 2 weeks ahead on all your bills. Then the next time you get that extra check, you'll find yourself with enough that you have a full month of cushion. It is amazing how much less stressful life is when you have padding in your account and don't have to live paycheck to paycheck.
There is a late fee. They just waive it during the grace period.
Some of yall need to understand it's not a such thing as a perfect tenant.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
