Grace days refer to when you give your tenant a few more days to pay. For example, if rent is due on the 25th of the month but your tenant only gets paid on the 28th, you can give them a 3 day grace period so they can pay their rent when they get paid. This will lay in charges as overdue for due+grace. E.g of where this is used:
Days in advance means the rent will show on your statement before the due date. This allows a tenant to know that they are getting charged in the next few days. E.g of where this is used is
Go to a Tenancy > Recurring Charges
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