Legal Question in Real Estate Law in California
California Commerical --how long a grace period is acceptable ? I want a 5 day period until the late fee kicks in. Is this OK ?
2 Answers from Attorneys
There is no grace period for commercial or residential leases under California law. If you want to include a grace period in your lease, there is nothing to stop you from doing so, except perhaps the other party to the lease - the term must be agreed to by both the landlord and the tenant.
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There is no automatic (statutory) grace period, but it is not unusual for landlords and tenants to agree upon one and insert it in the written lease agreement, and five days (or five business days) would seem reasonable.