Rent Due Date & Grace Period Question (OH)

[magoomafoo]

Originally Posted by Mercury Cougar

The bank that owns the mortgage on the property doesn't give the owner a grace period, either.

I would be changing banks then. My bank has a grace period also. I ended up in the hospital for emergency surgery and was by no means "able" to take care of bills for a couple of weeks. Called the bank as soon as I was able to and was told no problem, they have a 14 day grace period and being from a smaller town, the bank heard what had happened and gave me a further grace period. Didn't even get a negative mark on my loan history.

[austin-steve]

Texas now mandates a 2 day grace period, (which, ironically, causes more renters to incur late fees than when there was no grace period). Check your state/local laws.

If your lease doesn't provide a grace period, you don't have one unless state/local law supersedes your lease. I know it sucks, but when you signed the lease you signed an agreement and if the rent slipped your mind you've already agreed to the late fee.

Steve

[bentlebee]

If you don't want to be late...use billpay from your bank so automatically your check will be sent on a certain date...it doesn't even cost you the costs of an enveloppe and stamp

Excuse of the Day

click on the link and read all the excuses that already have been used...your will be in there, I'll bet you!

[Houston3]

Originally Posted by Mercury Cougar

The bank that owns the mortgage on the property doesn't give the owner a grace period, either.

Yes, most of them do....

[Mercury Cougar]

Originally Posted by Houston3

Yes, most of them do....

Okay, my point just went over all of your heads. Point being, that the owner has bills to pay on time just like everyone else, and the simple fact that the renter cannot pay on time doesn't make the owner's bills go away, or their late fees disappear if they're late because of the renter.

[DSOs]

My lease says the rent is due on the 1st with no mention of a grace period & or late fees. Because of this I looked @ the Ohio statutes & I interpreted it as if the rent is late the LL has to tell you in writing & then you have to pay up or get evicted; I have no clue if this is correct however. We usually pay rent 5-8 days early so we can verify that the check cleared by phone (auto-teller). I decided to start mailing our rental check with proof from the post office that we mailed it just in case (hopefully less than $2.00/month).

[bentlebee]

Originally Posted by DSOs

My lease says the rent is due on the 1st with no mention of a grace period & or late fees. Because of this I looked @ the Ohio statutes & I interpreted it as if the rent is late the LL has to tell you in writing & then you have to pay up or get evicted; I have no clue if this is correct however. We usually pay rent 5-8 days early so we can verify that the check cleared by phone (auto-teller). I decided to start mailing our rental check with proof from the post office that we mailed it just in case (hopefully less than $2.00/month).

Good for you!

I'm a LL and I have started to put in my lease very strict rules about late fees, etc...not because I like it but if you don't the tenants start to pay later and later and every time the same kind of excuse..."family member sick, car broke down, bank made an error, etc."....now they know they have to pay the late fees and if they don't like it, they either pay on time or leave when the lease is up....either way. I'm still getting call for my rentals and we are in an area of high foreclosure rates...so more and more people need a place to rent and most people have moey after having lived in a home without paying any mortgage for months or even more than a year, they have money to pay for rent

[homeowner35]

$50 is a lot of money. Is that they average late fee per day?

[bentlebee]

I started out with being very nice about a sob story and getting the rent paid a few days late...until I really felt played...Now my contracts are clear and I'm clear too...if your late, you pay the penalty and I don't care about the reason...since I almost heard every lie in the book.

Btw I watched a program yesterday about female cops and one lady who was checked for drugs had such a great way of expalining why there were drugs in her bra...the wind blew and I was standing next to a person smoking weed, it must have blown into my bra.......didn't work for the cops, she went to jail

[shirlb45]

I live in new jersey my lease for my townhouse im renting from owner states rent is due on the 5th if each month anything after the 5th is late and a $50 late charge, does this mean i have no grace period.