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View Full Version : Is the a grace period on rent payment


rent1
Dec 26, 2010, 03:50 PM

rent1
Dec 26, 2010, 03:52 PM

Fr_Chuck
Dec 26, 2010, 03:56 PM
Rent is due the day it is listed on the lease. Normally the lease will allow a number of days before there is any late charges, but they do not have to.

ScottGem
Dec 26, 2010, 04:46 PM
NYS law does not provide for a grace period of ANY length. However, for a late fee to be charged it has to be listed in the lease. On the other hand case law in NY has allowed a reasonable (5% or less) fee to be charged if rent is not paid on the due date (except when the due date falls on a weekend or holiday).

Why do you ask?