Updated over 13 years ago on . Most recent reply
Understanding the Pet Deposit
This past year has been my first time with a tenant. They are now moving out and I am trying to decipher the lease. With regards to animals, the lease states the following:
"...at such time as Tenant shall actually keep any such animal on the Premises, Tenant shall pay to Landlord a pet deposit of fifty dollars ($50)."
Would you read this as refundable or non-refundable?
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#3 Real Estate Deal Analysis & Advice Contributor
- Rental Property Investor
- Mercer Island, WA
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#3 Real Estate Deal Analysis & Advice Contributor
- Rental Property Investor
- Mercer Island, WA
Agree. "Deposit" implies refundable.
But your lease isn't very good. Spend some time making sure that at least you understand it before you use it again. And spend some money having an attorney review it to be sure 1) its all legal, and 2) is says what you think it says. It will be a few hundred dollars well spent, and you'll have a contact with an attorney you can use in the future.