What does “Grace Days” and “Days in Advance” Mean

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+graceE.g of where this is used:

  • Council pay in arrears
  • Agreed where the tenant pays late

How to Handle Rent that is Paid in Arrears (Grace Days)

Days in Advance

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

  • Where tenants always pay rent early
  • You want to see rent on the statement before due

How to Handle Tenants that Always Pay their Rent Early (Days In Advance)

Where to Add These

Go to a Tenancy Recurring Charges

tenant-recurring-charges

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