Rents are due and payable on the 1st of each month without requiring a statement to pay when billed. If not paid by 5:00 p.m. on the 5th day of each month, a 5% late charge plus $5.00 per day will apply until paid in FULL and will be considered as additional rent. Payments received after 5:00 p.m. will be applied to the next business day. Saturday and Sunday are NOT considered business days. Payments must be paid in FULL by 5:00 p.m. on the 5th to avoid the late charges. Rent is pro-rated for move-ins and move-outs.