The following is the Godaddy domain renewal email notices which I observed:
5th Day: Renew it or lose it: “The following domains will be canceled in 30 days. Let that happen, and you’ll lose not only your domains but any website, email or products connected to them”. They send this email usually before 25 days of expiry. if example.com is expiring on 30th Nov. They will send this email on 5th of Nov
12th Day: Another email with the same subject comes on the 12th of Nov.
24th Day: Another email with the same subject of “your domain expires soon’ comes on 24th of Nov. almost 12 days after the previous email has been sent to the domain registrant.
25th Day: Urgent: Example.com cancels in 5 days: This email comes just before the 5th day of domain expiry.
1st Day after expiry: Renew your expired products before you lose them: This email comes immediately after the expiry of the domain name. Usually the next day. If your domain is expiring on 30th of Nov, expect this email on 1st of Dec. with the following information “Anything included in “Canceled items” has expired and can no longer be renewed. That means any related data (website files, emails, databases, etc.) has been removed from our server and is beyond recovery.”
11th day after expiry: “Final cancellation notice: This email comes just before the 12th day of domain expiry. “Your domains were canceled on Nov 30, If you want to recover them, hurry. You can still avoid the $80 recovery fee if you do it before Dec 11, (Just so you know, most domains can’t be saved 30 days after the cancel date.) That is if you don’t renew your domain within 12 days of expiry. You will incur the redemption fee of USD 80.
42nd Day: Your Items have been removed: This email comes on Jan 11th. That’s the 42nd day after the domain expiry.
From above what I assess is that Godaddy provides a 12 day grace period. And, then your domain can be saved if it’s renewed within 30days. Your domain will stay in your account to 30 days after its expiry. And, then it moves to auction. Further info on renewal.