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Updated almost 16 years ago on . Most recent reply

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Bienes Raices
  • Orlando, FL
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Separate pet deposit, or just raise the security deposit amount?

Bienes Raices
  • Orlando, FL
Posted

In my state there's no limit to how high of a sec. deposit you collect, so is there a point to going to the trouble of a separate pet deposit with a pet agreement? Also, what is the rationale behind asking for non-refundable pet fees? Thanks.

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Mark N.A
  • Real Estate Investor
  • North Carolina
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Mark N.A
  • Real Estate Investor
  • North Carolina
Replied

To avoid legal problems it's best to call something nonrefundable a 'fee' (and make that clear) as opposed to a refundable 'deposit'.

I make it clear that any necessary cleaning will come out of tenant's security deposit, and keep good documentation like photos and move-in check lists signed and dated by tenants.

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