Grace period

Example

Rent of $1,500 is due October 1, 2026, and the lease gives a 3-day grace period. Paid by October 4, there is no fee; paid on October 5, the lease’s $50 late fee applies. If the payment made on October 3 bounces and is returned on October 7, the grace period has already run, so the rent is late and the fee applies along with any returned-payment fee.

In a lease it looks like…

Rent is due on the first day of each month. No late fee is charged if rent is received by the end of the third day after it is due; after that, a late fee of $50 is due.

By state

Some states set a minimum grace period by law: 5 days in New York, 7 in Colorado, 15 in Maine and 30 in Massachusetts, where no late fee can be charged until rent is 30 days late.

Late fee laws by state