If you own property and you want to attract a larger pool of tenants, consider offering pet-friendly rentals. Pets are a large part of people’s lives, but unfair hostility against animals has caused many landlords to avoid offering property that allows pets. A pet deposit agreement is a great way to avoid dealing with expensive issues following the time in which the tenant moves out and you need to clean and repair the property.
You need to have a separate pet deposit agreement instead of a security deposit that includes both. When you do not have a separate one, it is easy to get stuck with a lot of expenses to repair and clean the property following the move out of the tenants. Some tenants might complain about extra pet expenses, but others are just happy to have found a home where their pets are welcome.
We don’t recommend charging a one-time pet fee on move-in just because it can be expensive and stressful for a new tenant. When moving renters normally need to come up with a safety deposit and pay for a few overlapping rent months or weeks. Should you add in an additional pet fee, you’ll eliminate what could be great tenants.
Landlords have several options when it comes to pets and fees; they could mix and match any of these: If you would like to allow renters to have pets, but you are concerned about the size of the pets, you can restrict the kinds of pets that you allow. Some people agree to only have small animals that are less than 25 pounds. Other landlords only allow tenants to have 2 pets, but no more. It all depends on your preference, the amount of space you are renting, and the exterior of the property. You want to be able to provide grass for pets to use so you don’t end up with a tenant that has a pet that urinates inside the property.
Pet deposits and pet fees are two different things, but both designed to protect the property after the tenant moves out. If the tenant was responsible and cared for the property, you shouldn’t have a problem giving back their pet deposit because you only needed to clean a little. If you had a tenant leave and you found pet urine and damage throughout the property, the deposit allows you to hire professional cleaners to come deal with the mess.
Charging around $200 and $500 for a one-time pet fee is the average rate. In certain states, if you do charge a pet deposit or pet charge, you cannot use the security deposit to insure pet damage. You use the pet deposit or pet fee for it.
Some landlords will provide refundable deposits. These deposits are designed to encourage pet owners to clean up after their pets and to care for the property. If you do have this clause, you MUST return the money when the tenant moves out. We hope these tips help you understand your rental agreement so you can keep your pets safe!
