Changing grace period

[Arthur Banks]

I currently have a 5 day grace period in my lease. I'm considering changing It to 3 days. When an existing tenant renews are they "grandfathered" in at 5 days? Or can I have them sign an addendum stating the new 3 day grace?

[Blake Messina]

Most leases have a timeframe for making changes to the terms such as this one. You will probably just need to give them some written notice of the change (maybe 30 or 60 days out). Or just have them do a new lease or an addendum to the lease to reflect the new grace period.

Tenants aren't grandfathered in forever on their terms. I would say handle the same way you would a change to the rent price.