Pet fees? What do you usually charge

[Crystal Wilson]

What do you guys charge for a pet deposit? And fees?

[Nathan Gesner]

@Vanesa Gonzalez and @Rachel Fairweather what do you hope to gain with the $100 refundable? If a tenant moved in with two dogs, you would have a $200 increase to their deposit. If the dog tears up carpet in one room, you'll be out 4x that amount. Digging in the yard could eat up 2x - 6x that amount. 

My point is that your refundable deposit isn't doing anything to mitigate your risk, it's not adding to your bottom line, and it's not a large enough deterrent for bad tenants. A bad tenant/animal can cause $6,000 worth of damage to a home so what is the $200 increase supposed to do for you?

I recommend a non-refundable fee up front, anywhere from $100 - $500 depending on your market and the type of animal. Then you add an animal rent per pet, per month and priced according to what your market can support. I've seen owners charge up to $300 a month for a single dog - and the tenant paid it! I prefer $50 a month per animal which is an additional $600 a year per animal. Add that to a $300 fee up front and the tenant is paying $900 in one year or $1,500 in two years which will actually cover some damage.

Most tenants are good and won't cause more damage/cleaning than can be covered by a traditional deposit but you are also providing them the opportunity to live with their pet, which other Landlords won't do. Use this as an opportunity to help the Tenant but don't forget to help yourself.