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A notice of current rent balance is an official communication from landlords to tenants indicating unpaid rent. It is important for landlords as it serves as documentation for potential future legal proceedings. Such notices are typically required after the rent due date specified in the lease agreement, often the first of the month, but can vary based on mutual agreement. While a rent balance letter is appropriate as soon as the due date has passed, some states allow a grace period during which rent is not considered late. It's advisable for landlords to know the specific rules for their state regarding rent due dates and grace periods.