Rent Grace Period and Late Rent Fee
Hi there. I just wanted to get some feedback before I email the tenant about the rent being late. It is the first time that my tenant is late for her rent. Rent is due on the first and I have a 5-day grace period so the 6th day is when rent should be paid and if rent is received after the 6th day, that is why I charge the late fee. She made a check deposit on July 5 and I just found out today that the check bounced. Per our lease agreement, a late fee is charged for each additional day that the rent remains unpaid. So, I will start counting on July 7 for unpaid rent because that is after the grace period. Any feedback would be appreciated. Thanks.