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Updated over 6 years ago on . Most recent reply

User Stats

354
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23
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Michael Sherwood
  • Investor
  • buffalo, NY
23
Votes |
354
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pet deposit

Michael Sherwood
  • Investor
  • buffalo, NY
Posted

What is your policy on pet deposits? I am considering renting to a couple that has a dog and also works at an animal shelter ( so they might have an occasional additional animal) The place needs new carpets so I was thinking if I told them in lieu of replacing the carpets I wouldn't charge a pet deposit. What is your thoughts on that? I am charging a little higher rent than the previous tenants. just bouncing ideas!

Mike

Most Popular Reply

User Stats

168
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78
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Elizabeth S.
  • Real Estate Investor
  • Fort Wayne, IN
78
Votes |
168
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Elizabeth S.
  • Real Estate Investor
  • Fort Wayne, IN
Replied

Hmmm, interesting idea and always one I run around with when asked. The problem is that pets ruin more than carpet (like sub-flooring, trim, blinds and yards). I wouldn't waive the fee.

I charge a $200 non-refundable pet fee and then an additional $10 per month per pet. I only ever have dogs though so I'm not sure how to work that with other pets.

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