Table of Contents
What Is Pet Rent?
How Is Pet Rent Different Than Pet Deposits?
What Is the Average Pet Rent?
Pet Rent Fees Advantages
Pet Rent Fees Disadvantages
Pet Rent Fees Alternatives
Pet Rent Fees Bottom Line
What Is Pet Rent?
Pet Rent is an additional monthly fee charged by the landlord on top of the regular rent. It is meant to cover the increased wear and tear and potential damages caused by pets over time. Unlike pet deposits, pet rent is non-refundable, as it is considered part of the monthly rent payment. Pet rent is also a recurring charge that you will have to pay each month.
In our day and age, many pet owners are expected to pay a monthly fee for their animals. This price usually isn’t too high, under $50. Still, it’s an additional cost that many apartment complexes are charging their tenants more and more often. It might seem like it’s an unnecessary charge, but several good things come with pet rent. Previously, owners would pay a deposit to cover pet damages. Pet rent is a newer and more consistent version of that money.
How Is Pet Rent Different Than Pet Deposits?
A pet deposit is a one-time, refundable fee paid at the beginning of the lease term. It is intended to cover potential damage caused by pets during the tenancy. On the other hand, pet rent is an additional monthly fee that is due each month. It is often included in the lease charge. The landlord is legally permitted to require this amount from a pet owner in a private business.
Pet deposits are the more common term that comes with keeping a pet in an apartment. When an individual signs a lease with a pet, they pay a deposit to cover damages from the pet. This fee is a one-time thing. After this money is paid, the owner is not expected to pay the apartment owner additional rent for their animal.
Average Pet Deposit
The average pet deposit is $250 to $300 per pet. However, the exact amount of a pet deposit can range from $100 to $500 or more, depending on the landlord's policies and the type, size, and number of pets.
The pet deposit is usually refundable at the end of the lease, provided there is no pet-related damage beyond normal wear and tear. The landlord may deduct the cost of repairs and cleaning from the pet deposit before refunding any remaining balance to the tenant.
What Is the Average Pet Rent?
The average pet fees for rentals are between $25 to $100. Upscale apartments will charge something closer to $100, while cheaper living spaces will be on the lower end. Most places charge no more than $50 a month to keep an animal inside the apartment.
Pet Rent Fees Advantages
There is a chance you could get a better deal by paying pet rent. Rather than charging a massive fee upfront for your animal with no refund, you might only have to pay $15 a month or so for your animal. For a 12-month lease, that’s a steal.
Some other advantages include:
- More rental options
- Security for the landlord
There’s plenty of good that comes with pet rent fees.
Although many owners are good, some pets rip apart locations and cost thousands in damage repair for landlords. Pet rent provides security for both parties and makes everything simpler at the end of the day.
Pet Rent Fees Disadvantages
Just as there are advantages, there are also disadvantages of pet rent. If you have a lease longer than twelve months, the pet rent fees will add up. You will pay a lot more than anticipated if you stay long enough.
Some other disadvantages include:
- Paying for damages that might not happen
- Dealing with yet another cost per month
Pet rent is another expense to add on top of everything else in your life.
Unfortunately, it might be easiest to pay pet rent if you’re desperate for a place to live. If not, there are alternatives to consider. Let’s talk about them.
Pet Rent Fees Alternatives
You can always attempt old-fashioned negotiation with the landlord. If you intend to stay longer than a year and can prove your pet is good, you might be able to lower the pet rent fees. Or you can attempt to pay a larger deposit right away.
Another option is walking away from pet rent and looking for a way to live in another apartment. It’s getting easier to rent with pets, but there are more options now than ever. Pet rent is just one way to live with your furry friend.
Pet Rental Fees Bottom Line
Pet rent and pet deposits are tools landlords use to manage the risks and costs associated with allowing pets in rental properties. Pet rent provides ongoing compensation for potential wear and tear, while pet deposits offer a refundable security deposit to use against specific pet-related damages. While the fee may seem annoying, by paying a small monthly pet rental fee, tenants will have more apartment options, which is a good thing.
Understanding these fees and their purposes can help both landlords and tenants manage expectations and responsibilities related to pets in rental properties.