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    rent1's Avatar
    rent1 Posts: 2, Reputation: 1
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    #1

    Dec 26, 2010, 03:50 PM
    Is the a grace period on rent payment
    rent1's Avatar
    rent1 Posts: 2, Reputation: 1
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    #2

    Dec 26, 2010, 03:52 PM
    Is there a grace period on rent payment in New York
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #3

    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's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
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    #4

    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).

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