If you are renting, you might have to pay more money to keep your pet. Learn about the differences between a pet deposit vs. a pet fee here.
It’s the perfect time of year for pet lovers to be searching for new furry friends to add to their family.
But before you head out to get a new dog or cat, make sure you know the difference between a pet deposit vs pet fee. Both can be costly, so it’s important to understand what they are before purchasing your new fur ball friend.
Keep reading to find out what they are and how they work. This way you can decide if you want to tack on pet fees or a pet deposit on your next purchase.
Pet Deposit: What Is It?
A pet deposit is a financial arrangement between the tenant and the landlord. The key characteristic of a pet deposit is that it is refundable. If your pet doesn’t cause any damage to the property, you should receive your deposit back in full when you move out.
The cost of a pet deposit can vary depending on the property and the landlord’s policies. The exact amount is usually determined by factors like the size of your pet and the type of property you’re renting.
When it comes to returning the pet deposit, regulations differ from state to state. Some states have specific laws on how landlords must handle pet deposits.
It is important for both landlords and tenants to carefully review and adhere to these regulations. This is to ensure a fair and smooth return of the pet deposit.
Pet Fee: What Is It?
A pet fee is a non-refundable pet rent that tenants pay to the landlord to allow their pets to live in the rental property. This is a one-time charge and you will not get this money back.
Landlords often use the pet fee to compensate for the added wear and tear that pets can cause to the property. This includes cleaning, maintenance, and any necessary repairs related to pet odors or other minor issues.
The pet fee varies greatly depending on the landlord, location, and the specific rental property. Some landlords charge a fixed fee. Others may charge a percentage of the standard rent or even a combination of both.
Which Is Better for You and Your Pet?
If you have a well-behaved and trained pet, a pet deposit might be more attractive. This is because it offers the possibility of getting your money back. A pet deposit can be a significant upfront cost, so make sure you have the funds available when signing your lease.
If your pet has a history of being mischievous or if the property’s terms require it, a pet fee can be a convenient way to budget for your pet’s residency. A pet fee may be a more affordable option upfront, but they are non-refundable.
Additionally, you may consider getting your pet certified as a support animal. Landlords cannot charge the service pet for a deposit or fee as these animals are considered necessary for the individual’s well-being.
Pet Deposit vs Pet Fee: A Comparison
It is important for pet owners to understand the difference between pet deposit vs pet fee. A deposit is typically refundable and used for damages. A pet fee is non-refundable and for general upkeep.
Consider these differences and make the best decision for your specific situation. Choose wisely when deciding on which option is best for you and your beloved pet.
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