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Hi all, I am wondering about your rent dates. Here in Cincinnati rent is due on the 1st but you have until the 5th to pay it with no penalty. I am looking to move to Michigan and when I call and ask complexes (in Detroit, the surbs, Ann Arbor and Kalamazoo) if they give tentants until the 5th to pay the rent, they think I'm crazy and say thats unheard of! One lady says they give eviction notices on the 2nd! Is Cincinnati an exception or do most cities/states expect the rent on the 1st? Please resond with the city you are talking about please, thanks!
I know that all the apartments I've lived in here in Lexington, Ky have the same policy as yours does (allowing until the 5th). I'm not sure about Michigan though, sorry.
I used to rent in massachusetts and rent was due on the 1st. I don't remember there being a policy of how late you could push it. It was due the 1st, we almost always paid by the 1st, and if not, very shortly thereafter. This was on rare occasion. I think a landlord would be crazy to start eviction proceedings on the 2nd if it was a good paying tenant.
I used to write my leases with a due on the first, payable by the fifth. Then everyone started to pay on the fifth. So I changed it to due on the first, payable by the third. I also doubled the late fee. Now everyone pays on the third. I can't get people to realize the rent is DUE on the first. So that is the reason for dropping the grace period. give em an inch and they take every bit of it.
I was told that "Grace" periods came into being as a practical solution to deal with Bank Holidays.
If a due date falls on a Sunday or Legal Bank Holiday it is my understanding that it cannot be considered late if paid no later than the next banking day.
Having a 3 day Grace period would cover Sunday's and Bank Holidays...
Wow, I'm surprised by all these answers. I rent out two homes and although the rent is due on the first, I'll give them a leeway of 7 days before tacking on a $25 late fee and a discount of $25 if they pay a week in advance.
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