What does past due rent mean?

Past Due Rent Payment means, with respect to any Lease Payment Deficit and any Lessee, any payment of Rent or other amounts payable by such Lessee under any Lease with respect to which such Lease Payment Deficit applied, which payment occurred on or prior to the fifth Business Day after the occurrence of such Lease …

What happens if I pay my rent a day past the due date?

Most rental agreements include a late fee clause. You might have to pay a late fee if you’re even a few minutes past the due date. Or, you might have a grace period of a day or two. Keep in mind that just because you have a grace period doesn’t change the payment due date.

What does a past due rent notice mean?

What Is a Past Due Rent Notice? A past due rent notice is both a warning and a reminder. This letter document provides the clear statement that the renter is already delayed when it comes to paying his or her rent for a given time period.

Is there a grace period when rent is due?

A rent grace period provides a few extra days from the date rent is due for renters to get their payments in, as money transfers and checks aren’t instantaneous. Many states allow for a rent grace period, but not all do. Each landlord can set their own if they so choose, but a standard is 3-5 days after rent is due.

What’s the difference between due on and due by rentpost?

Technically, if rent was due on the 1st, it’s first late on the 2nd, or after a certain time on the 1st. In RentPost’s case, it’s late at midnight on the 2nd, the start of the 2nd.

Is there a grace period for paying rent late?

Each landlord can set their own if they so choose, but a standard is 3-5 days after rent is due. Check your lease agreement to see if you have a grace period and are allowed a few additional days to get your rent payment in. Now, what if you don’t have a grace period or it’s already passed? Here are some consequences of paying rent late.