Hi guys gals.. my tenant wants to get a pet which I said was okay.. I was curious what is the common way of handling this situation in terms of how much I should charge for a deposit. I know it probably varies but its a 2 story house 1,800 sq and he said its not going to be inside the house. I did some searching online and people are saying $250 deposit and $250 non-refundable? And some are charging an extra month to month rent for the dog.. Thanks

You already said "okay" without any of these stipulations ?

If the Dog is not going to be in the house, what happens if neighbors complain ?

Why should the $250 be Non-Refundable ? The place might be left in pristine condition; in which case, there there should be no penalty.

Oh my gawd! Why are you attacking me? I said its okay yes but I told him that I will set the contract/rules and the amount of the deposit. Geez im asking for advice for what is a good range to charge for pet deposit. And that $250 non-refundable was something I googled and read about what some landlords are doing.. so please read my posting again..

I don't think that was an attack - I could be wrong - but I don't think so.

As for the house being left in pristine condition - to someone with allergies that is all but an impossibility, so that will affect your rental possibilities after the current tenant moves out.

I feel you are on the right track - you have to make money and protect your interests - if your tenants don't agree then they can exercise the options available.

The neighbor situation shouldn't be a big worry uncles you are in a gated community - as it will be a civil issue the tenants will have to take care of.

You need to know your state laws. In MI you can only charge 1.5 months rent maximum for a deposit, period! You may charge extra rent for a pet, but no extra deposit.

I find this really interesting...
In Ontario, we are not permitted (by law) to make a rental unit "no pets" or "no children".
We are also not allowed to ask for more than one rental term (a week or month's rent) at signing. No first and last month's rent...We are also not permitted to ask for a deposit.
They are getting really strict here with the new regulations under our Residential Tenancies Act to protect tenants (you can check it out at http://www.e-laws.gov.on.ca/html/statutes/english/elaws_statutes_06r17_e.htm).

In VA, I charge a $200 additional pet deposit (refundable), no additional charges. Definitely check your state laws though to be safe.

I would fill out a pet addendum to the original rental agreement and sign with the tenant, spelling out your pet policy in detail. Also, each state has different laws governing security and pet deposits, and some states restrict the total amount of deposit you can collect, etc. Some states don't differentiate between the two, in which case it can't legally be non-refundable. I would check on these legal issues before proceeding, but I would definitely charge SOMETHING, whether it's an additional deposit or higher monthly rent, because pets are he11 on rental properties.
Best of luck,
_________________________
Brian
Rental Agreement

Well, I love Dogs, but Dogs can be trouble. I would get at least one month security deposit per pet.

I charge 200 deposit, a hundred of which is refundable. We have a cheap rental market though

you have to make sure to get a non-refundable portion of the deposit so you can deep clean the property so that if the next tenants have any allergies they will be ok.

If you have an expensive rental market you can charge more, but I would still make half of the deposit non-refundable. I would say half month's rent is a good pet deposit and is fair.

Pine is right on track here. In my mind, the biggest concern with a dog is damage to hardwood floors or chewing issues. Dogs typically don't mark like cats do, and dog urine is more forgiving in regards to clean-up than cat urine. You know your tenants best...simply have a responsible conversation with them, and should a dog/pet still be the decision going forward...then just formalize it in a pet agreement (search online for an example pet agreement). Good Luck!

I charge a 200.00 nonrefundable pet dep forthe 1st pet and an additional 100.00 for each addl pet. I accept all breeds/sizes, over 8 months old, spayed/neutered and vaccinated. No outdoor only pets.

If possible put a doggie door in, if you have a secure yard in your rental, and put padlocks on the gate (give renter a key). Make sure your insurance doesn't ban certain breeds.

Be sure to fill out a pet agreement.

We handle this on a case by case situation in Philadelphia. Some of our owned properties do not permit dogs some do. Properties we manage for private owners are handled in various ways. The norm for us is a $300.00 refundable/non-refundable pet deposit. Some owners are pet lovers and understand that excluding pets drastically decreases their prospect pool. Again with the rise in rentals and drop in sales. We are finding more and more families(which usual come with a family pet)looking to rent prior to owning. I feel a refundable pet deposit is an appealing compromise. We also use a pet addendum with every lease and I would highly recommend using one.

The problem with non-refundable deposits are:

1. If the pet doesn't cause any damage or require cleaning (e.g. it's an outside dog) you can't justify keeping the money.

2. What if you hold $100 non-refundable and the dog stains the carpet so bad it takes $200 to clean up after it? You've limited yourself to $100 for cleaning up after the pet.

My preference is to charge extra for a pet. For example, I have a house that rents for $1250 and I'll charge an extra $50 a month to allow an indoor dog of 50 pounds or less. That adds up to an extra $600 on a year lease and will cover a lot more damages than a $200 non-refundable and the owner doesn't have to explain to the tenant how it was used. Dog owners have fewer options so they're happy to pay the extra and they tend to stay put longer once they find a place. It's really a win-win for the tenant and the owner.

My main concern with dogs is that they disturb other tenants by barking or when the owner doesn't clean up behind them. For that reason, I never allow dogs in apartment complexes.