How do you detrermine your pet deposit. Is is a straight amount like $300 or is is calculated?
Although the pet deposit (whatever you decide is the right amount) will help cover damages by a pet, it will do little to nothing to cover liability if little Sparky rips up the face of the toddler next door and then you WILL get sued. I require any tenants with pets to also have a liability policy ($250K) that covers the pet, with my LLC that titles the property named as additionally insured. I’ve yet to have a tenant willing to take on that responsibility.
jmd_forest
I do not allow pets in any of my units. lease mentioned right to vacate notice if pets are discovered.
Pets help keep units rented and vacany rates down- its just a fact of life. I simply don’t allow certain breeds of dogs in my units. Thats my only stipulation. As for the deposit, equal to one month extra for dogs, half month for cats and other small animals, and ALL PETS HAVE TO BE OKD BY ME FIRST! never had a problem, (then again I’ve never had a major problem with my tenants in general)…