If rent is due on the 1st of the months and this is what the lease says:
Is it late after the 5th or after the 6th?
To me... 5 days after the due date of the 1st is the 6th.
I agree. It's a poorly written clause and needs to be clarified in writing.
I suspect it is supposed to mean that a late fee will of 50 dollars will be charged if rent is received on the 5th and that each additional day will be an additional 10 dollars.
I have considered the 10 bucks a day rent scheme but I am hesitant to use it. It seems like it would make it extremely hard to get caught back up and I suspect that the 50 dollar charge would provide enough encouragement that the people who might not otherwise pay on time will. For the people who will be late no matter what the 10 dollar a day fee may just end up requiring an eviction halfway through a lease. Such as they're late 10 days one month now they're short 100 next month for bills and such and next thing you know the only cure is for them to leave. I am curious what others experience has been.
State landlord tenant regulations.
To my knowledge, including every state and province, rent is late at midnight on the day it is due. On the second of the month, or day following it is due, a landlord may officially issue notice requesting payment. This initiates the process to evict if rent is not paid.
So to answer your question rent is late at midnight on the 1st. This is considered day 0 (zero). Based on this late fees are counted (5 days) from the beginning of the 2nd day of the month (12:01 A.M.), This is day 1 in determining late fees.
Your late fees are triggered at midnight on the 6th day of the month. At that time they then owe an additional $50. As of midnight on the 7th day of th emonth they owe an additional $10 and $10 more at every midnight to follow that rent is not paid. It is very clear when you understand when rent becomes late.
My regulations allow me to impose a $190 cost on the second of the month and I am allowed to impose it without ever having to contact the tenant in advance. Obviously I do not use this for a one time late with a good tenant but I do enjoy imposing it on the bad ones. After all we need to get some enjoyment from what they put us through.
I would change that too to make it 1st day of the month to the 5th day of the month. A and B are confusing.
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