When Is The Rent Due?

Your rent is due on the first of the month. That is written into all my leases. This means that I am supposed to receive your rent by the first of the month. I usually don’t ask my tenants for the rent until the third day of the month. As a result, some people mistakenly assume that that there is a 3 day grace period; however, there is no grace period on the payment of rent, like there is on credit card statements. If I receive your rent after the first of the month, it is late. This is not just the way that I do business. This is the way rent works everywhere. I have never seen a lease that contained a grace period for the payment of rent. If you are mailing your rent check to me, you should send it at least 3 days before it is due. If I receive a rent check from you before the first of the month, I will not deposit it before the rent is due without your permission.