 Grace Periods (by RJD [NJ]) Apr 7, 2010 6:36 PM
 Grace Periods (by Bandit [FL]) Apr 7, 2010 6:41 PM
Grace Periods (by Doug [NJ]) Apr 7, 2010 7:25 PM
Grace Periods (by Rose [CA]) Apr 7, 2010 7:49 PM
Grace Periods (by Robert J [CA]) Apr 7, 2010 8:03 PM
Grace Periods (by BRAD_IN 20,000 [IN]) Apr 7, 2010 8:28 PM
Grace Periods (by reid [KS]) Apr 7, 2010 9:53 PM
Grace Periods (by OPR [OR]) Apr 7, 2010 10:02 PM
Grace Periods (by Dick [NJ]) Apr 8, 2010 4:23 AM
Grace Periods (by AllyM [NJ]) Apr 8, 2010 5:46 AM
Grace Periods (by Dick [NJ]) Apr 8, 2010 5:52 AM
Grace Periods (by Rick [NJ]) Apr 8, 2010 6:46 AM
Grace Periods (by DickNJ [NJ]) Apr 8, 2010 7:09 AM
Grace Periods (by billy [MA]) Apr 8, 2010 7:10 AM
Grace Periods (by Steve [TX]) Apr 8, 2010 2:51 PM
Grace Periods (by Dick [NJ]) Apr 8, 2010 3:51 PM
Grace Periods (by Steve [TX]) Apr 8, 2010 4:10 PM
Grace Periods (by Dick [NJ]) Apr 8, 2010 4:17 PM
Grace Periods (by TxMike [TX]) Apr 8, 2010 7:57 PM
Grace Periods (by Doug [NJ]) Apr 8, 2010 9:29 PM
Grace Periods (by RJD [NJ]) Posted on: Apr 7, 2010 6:36 PM
Message:
State Specific Question About: NEW JERSEY (NJ)
My leases contain a 5 day "grace period" for payment of rent and utilities. Sure enough, I have some who like to play "chicken" with the grace period - pushing it to the edge. One tenant is now saying that (by law)the grace period does not include weekends or holidays. I could not find any case law on the subject. Comments welcome. --173.70.xxx.xx |
Grace Periods (by Bandit [FL]) Posted on: Apr 7, 2010 6:41 PM
Message:
Not sure on NJ law, but in Fl, the rent is due on the first of each month. I allow a grace period of 3 days before I impose late fees. But, if not received on the 1st, the rent is late, the late fees don't start until the 4th of each month. Therefore, if rent is not received on the a1st of each month by mail, and it is not received, I can post a pay or quit notice for failure to pay the rent after mail is delivered on teh first. I allow a 3 day grace period, no weekends/holidays included, and stated in the lease. But by 9am on the fourth, notice is served. And after the first notice, it is served on the 2nd of each month if rent is not received. Just some thoughts. --71.51.xxx.xx |
Grace Periods (by Doug [NJ]) Posted on: Apr 7, 2010 7:25 PM
Message:
5 days is 5 days, weekends don't matter... I've been to court enough times with garbage like that where even the liberal judges in Hudson County side with the landlord with that type of argument... --67.85.x.xxx |
Grace Periods (by Rose [CA]) Posted on: Apr 7, 2010 7:49 PM
Message:
I have a 5 day grace period and it has worked for me. Your guy is a jerk. I do not think holidays or weekends matter. If he isn't on a lease give him a 30 day notice changing his due date to the 1st and no grace period. --74.42.xxx.xxx |
Grace Periods (by Robert J [CA]) Posted on: Apr 7, 2010 8:03 PM
Message:
I explain to my tenants that rent is always due on the 1st of the month, but they have a 5 day grace period -- the envelope must be post marked by the 5th or placed in my mail box, otherwise there's going to be a 6% late fee. --98.119.xxx.xx |
Grace Periods (by BRAD_IN 20,000 [IN]) Posted on: Apr 7, 2010 8:28 PM
Message:
We used to have a grace period. When I examined it, the policy hurt our business.
Why bother with a grace period? What does a LL hope to accomplish with this policy? Does this increase or damage the bottom line?
Their other bills don't do that. Tell your wireless carrier you want a 5 day grace period.
We eliminated grace periods 12(?) years ago and not a single resident complained. No one complains when we sign the lease.
-we start overdue collections earlier
-we start evictions earlier
-people would move out during the grace period and we would not know it until well into the next month.
-the deposit was used up before eviction
-evictions would spill into the next calendar month, leaving us to re-rent in the middle of the month.
-money has time value. Just ask the bank.
We call the first 5 days of the month "The Golden Week". We make more gold. Applicants have not yet paid their LL (grace period) and are out looking until the fifth. They give US the $$$ they have held from their current LL, then tell the LL to use their deposit. (sound familiar?)
--69.243.xxx.xx |
Grace Periods (by reid [KS]) Posted on: Apr 7, 2010 9:53 PM
Message:
Here is Kansas whatever the rental agreement says is the day rent is due if there is a grace period it is at the discretion of the LL and must be in the rental agreement. Weekends / holidays don't matter one iota. --70.250.xxx.xxx |
Grace Periods (by OPR [OR]) Posted on: Apr 7, 2010 10:02 PM
Message:
HI RJD
GEE FOUND IT ON THE NJ WEB SITE HERE ON MRLL
AT THE TOP OF THE PAGE
LSNJLAW - E: Chapter 4: Leases
... Cite: NJSA 2A: 42-6.1 and 6.3. The law states that a landlord must allow a tenant
a period of “five business grace days” to pay the rent. ...
45k --207.200.xxx.x |
Grace Periods (by Dick [NJ]) Posted on: Apr 8, 2010 4:23 AM
Message:
WOW! I'm going to hunt down that statute. If this is correct, then I'm in trouble. So any NJ landlord who does not offer a least a 5 day grace period of 5 BUSINESS DAYS is in violation? That's news to me and many others.
Dick --173.70.xxx.xx |
Grace Periods (by AllyM [NJ]) Posted on: Apr 8, 2010 5:46 AM
Message:
I have several tenants who feel that the end of the 5 day grace period is there rent payment day.
Occasionally they will pay on the fourth of the month.
Some of them work for schools and have unusual pay dates like the last day of the month plus two days. I had a pay schedule like that long ago.
But I feel that there are a couple of other reasons why they wait.
One would be "it's stupid to pay on the first when I don't have to pay until the fifth".
Another would be getting even with me for whatever bothered them that week about the apartment or whatever generally annoys them about the apartment.
The third would be laziness.
About a third of my tenants pay on the first. Another third on the second or third. Then the rest on the fifth.
In NJ, we can't file for nonpayment until the tenth of the month. --76.99.xxx.xx |
Grace Periods (by Dick [NJ]) Posted on: Apr 8, 2010 5:52 AM
Message:
The problem here seems to be NJ statute Chap. 4
2A-6.1-6.3 which mandates a grace period of 5 days and makes the grace days business days only. I don't think many of us in NJ are aware of it.
Dick --173.70.xxx.xx |
Grace Periods (by Rick [NJ]) Posted on: Apr 8, 2010 6:46 AM
Message:
The Five day grace period permitted by NJSA 2A: 42-6.1 for payment of rent is restricted by NJSA 2A:42-6.3 to tenants receiving Social Security old age pensions, railroad retirement pensions, or other government pensions, the statute was amended effective 7/10/2001 to clarify five day period to be read as five businesses days
the amendment also expanded 42-6.3 to included recipients of social security disability benefits, SSI recipients, and recipients of benefits under work first NJ
So in general unless your tenant falls under one of the categories stated above You Do Not have to give a grace period
That said for some reason your lease grants such a grace period, you are tied into five businesses days
As toward the statement that you are required to wait ten days before filing Under NJSA 2A:18-61.1a; there is no notice to Cease or Quit is necessary under the statute nor does the statute say one must wait 10 days before filing
Remember statute is one small part of the law; Case law is so important; You will not find Case law for free on the Web, --69.248.xx.xxx |
Grace Periods (by DickNJ [NJ]) Posted on: Apr 8, 2010 7:09 AM
Message:
Rick,
You are absolutely correct on this one. Just got back from the library and found the same points you make. So this closes the matter for me. Bottom line is you ONLY need a 5 day grace period for seniors, etc. Thanks to all for your help on this. Case closed.
Dick
--173.70.xxx.xx |
Grace Periods (by billy [MA]) Posted on: Apr 8, 2010 7:10 AM
Message:
i wouldnt put a grace period there in writing.if its due on the first its due on the first. --208.58.x.xx |
Grace Periods (by Steve [TX]) Posted on: Apr 8, 2010 2:51 PM
Message:
This is hilarious. The Government tells us when we should be paid. --99.39.xxx.xxx |
Grace Periods (by Dick [NJ]) Posted on: Apr 8, 2010 3:51 PM
Message:
Hilarious??
Then please tell us who you think should create the laws we use to run this landlording business? Or maybe you think there should be no laws at all. Wouldn't that be fun?
Dick --173.70.xxx.xx |
Grace Periods (by Steve [TX]) Posted on: Apr 8, 2010 4:10 PM
Message:
Dick, I find it Hilarious that OPR found for YOU a 5 business day grace period. You went to the library and found that it apply's only to the Elderly.
Then you have the nerve to be mad, that I find it funny that they expect you and your tenants to know all of your little laws. I didn't write the laws that you MUST follow.
I'm just surprised, how your state tells you do this for granny, do this for junior, EXPECTS you to know it, and if you were wrong... YOU WOULD LOSE IN COURT!
You told us the case was closed...
I agree good luck Dick.
PS: We have rules in TEXAS, too! I'm just still amazed, that we have to be TOLD when we should give grace. How much grace. It like the government owns the home you rent. They don't help me pay the note by the FIFTEENTH.
--99.39.xxx.xxx |
Grace Periods (by Dick [NJ]) Posted on: Apr 8, 2010 4:17 PM
Message:
Steve,
Seems like you belong to a group which all Texans should be able to relate to.............
"Big hat, no cattle"
Cheers,
Dick --173.70.xxx.xx |
Grace Periods (by TxMike [TX]) Posted on: Apr 8, 2010 7:57 PM
Message:
My grace period is the entire previous month, then I am nice enough to give one more day. Why in the heck would a landlord give a long grace period, when for the entire previous monht, the thenant knew that rent would have to be paid on the 1st --173.74.xx.xx |
Grace Periods (by Doug [NJ]) Posted on: Apr 8, 2010 9:29 PM
Message:
As I mentioned previously, I've been to court so many times on non-payment cases (in addition to being a landlord, I am also a property manager for several hundred units)... 5 days grace period is generally pretty standard, weekends not included... Regardless of the fact that the statute limits it to government employees, elderly, railroad workers, etc... Granted, my experience is limited to Hudson County, and the judges in your county may vary (although judge Fast here in Hudson county is generally considered the authority on landlord-tenant law throughout the state)... As long as you show you are willing to accept a payment by the tenant with penalties (if they are so inclined to try and make payment), I've never had a case where judgement was not delivered (along with a period of time to make good on the payment before issuing a warrant of removal). --67.85.x.xxx |
Reply:
|
|