5 day grace period on rent

[Bienes Raices]

I'm planning not to do this, and just have it due on the first, but I was wondering what other people here do? All of the apartment complexes around here give the grace period, but it doesn't seem like a great idea to me.

[Dale Osborn]

Why charge a late fee? Most leases already read "due in advance" or due "on or before the first" and mean the same thing. If rent is paid on the 2nd, it is late. Tenants feel that since a late fee is not charged until the 5th that rent is not due until the 5th. When taking over a property, the new owner has to reeducate them that it is late on the 2nd! Instead of calculating late fees - why not use a graduated rent lease? For example, If rent is paid on or before the 1st the amount due is $500. If paid from the 2nd to the 5th $515 in now due. If rent is paid from the 6th to the 10th - $530 is due. Rent from 11th - 20th is $560 and after the 20th is $600. This eliminates you calculating late fees. Tenants get the opportunity to choose what day of the month they pay and they already know the rent amount if paid at that time. When evicting tenants, courts do not like to award late fees in many cases. This wording of the lease places it as rent and most area have laws against governments imposing rent controls on residential property.