All Forum Posts by: Andrew Severino

I take the leniency point one step further. I do not do grace periods. At all. Rent is due on the first.  A base late fee kicks in on the first or second, and a per day fee starts on the third day of the month.  Why do I do this?  Not because I want to collect late fees, quite the contrary.  Over 20+ years owning and managing rental properties, I have found that tenants abuse the grace period, often 5 days, and then pay on the sixth, complaining about the late fee stating "I'm only one day late though".  WRONG!  In this case they are 6 days late, and completely abusing the grace period which contractually is a gift.