Lease dictionary
Grace period
The days after rent is due before it legally counts as late.
A grace period is the window after the due date during which rent can still be paid without penalty. Some states mandate one (commonly 3–5 days, longer in a few); elsewhere it exists only if the lease grants it.
The grace period affects late fees, not the due date itself - rent is still 'due' on the 1st, and chronic use of the grace period can show up in landlord references.
Watch out
A lease that charges a late fee on the 2nd in a state with a 5-day statutory grace period is charging illegally - check your state.
See it in action
The Late fee checker puts this term to work for you.