I am a newbie investor and I am wondering about pet fees and deposits. How do they work and how much would I charge? Thank you!!!
The best method is to look at comparable properties around you and base it around that.
Greetings from Minnesota!
I charge $50, per pet, per month.
@Taylor L. Thank you I will definitely do that!
@Steven Marttinen Thank you!!! I appreciate it!
We have been allowing for pets for several years. It gives our listings an advantage over other rentals in the area that usually don't allow pets. We don't have any restrictions on type or breed but I've learned over the years that if a pet owner can't afford the pet fees or complains about it they aren't really taking care of their pets well or paying their bills. We charge $300 per pet as a non-refundable pet fee at lease signing and $15 per pet per month as a pet rent. We also send out letters periodically when the owners aren't picking up their poop in the yard that they have 30 days to do the cleanup (or hire a pet clean up vendor that we recommend) or we will bill them for the cost and it is a violation when it comes time for lease renewal.
@Isham Zabala I charge a $250 non refundable pet deposit, in addition to the security deposit. And then we charge $30 for dogs and $2 for cats in pet rent.
The $250 essentially pays for the fee cleaning when they leave.
@Michael K Gallagher *$20 for cats…fat thumbs!
@Dante Pirouz Thank you, that definitely answers my other questions I had in mind!
@Michael K Gallagher Thank you! I also sometimes type an error hahaha
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