What is the Typical Pet Deposit for Rentals?
Looking for rentals that are pet friendly is almost like it’s own unique rental search. If you’re a tenant, you are looking specifically for apartments or rental homes that cater to your needs, as well as you are looking at the terms that involve your pets. If you’re a landlord or property manager, deciding to take pets opens yourself up to a lot more renters, while at the same time there are various concerns. The question becomes what is the typical pet deposit and pet policies that a landlord can reasonably apply and what can tenants expect.
These questions are common. As an Atlanta property management company we deal with pet policies all the time, and we are conscious of what is common in each particular area we serve. It can be helpful to look at what people find typical in your region. So let’s take a closer look. In this article we will go over the following:
- Typical Pet Deposit Fees – We will go over what are common pet deposit fees that landlords and property owners include.
- Typical Pet Deposit Policies – We will then discuss some common pet policies that landlords may or may not have in their lease, some of which affect pet deposit fees.
- For Landlords: How Can Property Management Help? – And finally, we will touch on how a professional property management company could go a long way towards helping you with these types of things.
Typical Pet Deposit Fees
It is pretty common for landlords to implement additional charges to account for potential pet-related damages… increased wear and tear… things that are common when pets are introduced to a rental. These charges typically come in the form of pet deposits, pet fees, or pet rent. A pet deposit is a one-time, refundable amount paid upfront. It is meant to cover damages specifically caused by the pet. If no such damages occur, the deposit is returned when the tenant moves out… the ideal situation for everyone really. On the other hand, a pet fee is also a one-time payment but is non-refundable, serving as basically compensation for allowing pets in the rental property.
A pet deposit is commonly anywhere from $200 to $500. If you’re looking at Atlanta and Georgia specifically, local landlords and property owners weigh in and find that around $250 for a pet deposit is reasonable.
Pet rent differs from both pet deposits and pet fees in that it is a recurring monthly charge added to the tenant’s regular rent. This ongoing fee helps landlords offset the continuous wear and tear that pets may cause over time. The amount for pet rent can vary but typically ranges from $25 to $100 per month, depending on factors such as the property’s location, the type and number of pets, and the landlord’s policies.
Landlords may choose to implement one or a combination of these charges based on their preferences and the specific circumstances of their rental properties. For instance, some landlords might opt for a refundable pet deposit to encourage responsible pet ownership, while others may prefer the steady income provided by monthly pet rent. It’s important for both landlords and tenants to clearly outline and understand these terms within the lease agreement to prevent misunderstandings and ensure a harmonious renting experience.
Typical Pet Policies
Straightforward and clear pet policies (outlined in a lease agreement) can be incredibly helpful. It is important to be on the same page. Because these pet policies can vary, having them spelled out and clear can only help… whether you are the renter or landlord. Here are a lot of typical pet deposit policies and other related policies that you might expect to be in a lease agreement or a separate pet agreement.
Common Provisions in Pet Agreements:
- Types of Pets Allowed – Are there specifications regarding permitted species and any restrictions on breeds or sizes.
- Service Animals – Address the implications and differences in pet policies if an animal is considered a service animal. This is likely regulated or determined by state or federal laws.
- Approval Process – Are tenants required to obtain written consent for each pet.
- Pet Responsibilities – Are tenants held accountable for damages, noise control, and waste disposal.
- Identification and Health – Determine whether and what is mandated regarding proper identification, licensing, and up-to-date vaccinations.
- Pet Fees – What are the details regarding a refundable pet deposit or non-refundable fees to cover potential damages.
For Landlords: How Can Property Management Help?
When you offer rentals that accept pets, you want to make sure your property is well-maintained and taken care of. At the same time, when you own several rental properties, it’s hard to keep up with that on top of all the rest: compliance, maintenance, tenant screenings, and the list goes on. However, when you hire a property management team, you can feel at ease knowing your rentals are fully compliant and managed professionally.
Bay Property Management Group is a top-notch company that offers comprehensive rental management services. We’ll take care of the day-to-day tasks of your rental properties, so you don’t have to! If you’re looking to take some of the hard work off your plate, contact BMG today. We offer property services in Atlanta, Texas, Boston, Baltimore, Philadelphia, Northern Virginia, and elsewhere.
