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A notice of current rent balance is an official document from the landlord informing the tenant of unpaid rent. It serves as an important tool for landlords and can be crucial in future legal actions if needed. Rent is typically due on the date specified in the lease, often the first of the month, but this can vary by agreement. A rent balance notice is appropriate once this due date has passed and the rent is unpaid, except in states with a grace period that allows a few extra days. For specific rent due dates and rules for each state, refer to the link in the video description. Sending a rent balance notice may not always be advisable immediately after the due date.