How Much Should Rental Property Owners Charge for a Pet Deposit?A pet is a big part of many families. Unfortunately, though, four-legged family members can sometimes cause destruction of a property, and they will usually require additional cleaning of the premises when the tenant moves out.

All of these issues can equate to added expense for the property owner. So, in most cases, an additional deposit may be required when a new pet owner tenant moves in, as well as a higher monthly amount of rent.

While all states allow a landlord to collect a security deposit from new tenants, some states restrict the amount that can be charged. The same holds true with pet deposits. In Florida, however, there is no cap.

So, even though many people expect to pay more when they have a pet, how much is “too much” to charge?

Florida landlords and rental property owners in Florida will typically change between $200 and $500 for a pet deposit. In many cases, the fee is not refundable. With that in mind, it is important to clearly state in the lease how much the tenant is required to pay, as well as what will happen with those funds when the rental period has ended.

Maintaining and managing residential rental property can require you to wear many different hats – including the collector of rent, being the repair person for broken appliance and other items, and possibly even acting as the individual who evicts tenants who are not abiding by the rules of the lease.

Having an experienced Florida property manager on your side can help. By delegating some – or even all – of these tasks to someone else, you can have more control over your time. If you’d like to find out more about the benefits of partnering with a property management team, contact us for details.

 

Sources

Security Deposit Limits and Uses. NOLO.

Breaking Down Rental Fees for Pets in Florida. Graham Legal, PA.