Is a pet deposit usually refundable?
A pet deposit is a one-time, refundable fee. Like regular security deposits, pet deposits can’t be used to cover wear and tear costs. You can use a pet deposit to pay for property damage and losses caused by pets — and pets only.
Can landlords take a pet deposit?
On top of your tenancy deposit, landlords can request an additional pet deposit to cover themselves against any potential damage caused by the pet at the end of the tenancy.
How much does a landlord charge for a pet deposit?
Landlords may also charge a monthly rate of $25 to $100 for pet rent. Be aware that some states or municipalities have laws that limit the amount you can charge. In Seattle, for instance, landlords can charge up to 25% of one month’s rent for a pet deposit, in addition to the security deposit and other fees.
Can a security deposit be used for pet damage?
It is possible to use the security deposit to cover the repair costs for pet damage if you don’t charge a pet deposit or pet fee. If you decide to charge a pet deposit and/or pet fee, beware that some states don’t allow landlords to use money from the security deposit for any pet damage.
How much does it cost to rent an apartment with a pet?
For a $2,000 apartment in Seattle, that would translate into a maximum of $500 for the pet deposit. When setting your pet deposit or pet rent, it’s important that your overall rental price remains reasonable and competitive with other rentals in your market.
How can I avoid paying a pet deposit?
If you want to avoid paying pet rent, you can off-fur to pay a larger pet deposit (so you can get your money back if no damage is incurred and your landlord still has a way to pay for any damages that do occur). You can also offer to sign a longer lease (the less time your unit is vacant, the better for your landlord).
What is a typical pet deposit?
The average pet deposit was between 40% and 85% of the rent, depending on what data were used. In general, it should be noted that in addition to a separate pet deposit the average total deposit was larger for pet- friendly housing. The prevalence of pet deposits varied by location.
What should landlord charge for pets?
On the average, most landlords ask for a refundable deposit of 0.25 to 0.5 month’s rent. Other landlords may choose to impose a fixed pet fee of around $200 to $500. There are two key factors that you should consider when setting your deposit amount. The first factor is the number and type of pets.
What is a pet security deposit?
A pet deposit is an additional security deposit to cover any damage caused by a pet. If a tenant causes damage (and it is NOT due to the pet), you generally cannot withhold the pet deposit and apply it to the damage.
What does pet rent cover?
Pet rent is charged on a monthly basis and is separate from the pet deposit. This monthly charge covers your pet actually being in your rental. Rentals are not required by law to allow pets to be on the premise, unless they are a service pet or involved with your functioning (such as a seeing-eye dog).