Austin Fleck Property Management is the only company I know that does not have a grace period. Rent is due on the 1st. If rent is not received on time, a 5-day notice is sent the next business day via certified mail to begin the eviction proceedings. By starting the eviction proceedings at the earliest possible date, we minimize the owner’s loss. Many management companies and landlords allow this situation to draw on for months. We can typically have the tenant out in the same month the default occurs. This greatly minimizes the owner’s loss in the unfortunate event of a default. Also, owners are not charged the legal fees. These are charged to the tenant.