The number of days after rent is assessed that the tenant has to pay his rent without being considered late and subject to a late fee. The grace period is defined in the Late Fee Profile and is associated with the Tenant Profile. The grace period set in the Tenant Profile is the grace period used to compile late fees.
If the due date is the first day of the month and the grace period is 5 days, then the tenant is considered late on the 7th.
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