Is a grace period for payment required?

[concerned1977]

What is the name of your state (only U.S. law)? VA

As the landlord am I required to give the tenant an allowable grace period for rent payment or can I put the following in the lease:

"Rent is due by midnight (12:00am) on the 1st of each month with no allowable grace period!"

Thanks.

 

[Banned_Princess]

there is no grace period for rent due.

the only way there is one is if you write one into the lease, which you plan to do the opposite.

 

[xylene]

As long as you understand that such a clause does not abrogate a tenants legal rights.

IE you can't summarily evict a tenant who pays on the second.

 

[concerned1977]

Thanks.

Thank you for both replies. They were both very helpful.

 

[atomizer]

You will need to place incentives for your tenants to pay rent on time. I would suggest you include late fees in your lease agreement. Otherwise, you tenants will pay when it pleases them.