Rental property owners - What do you think? I’ve definitely had a pet cause more than $300 in damage to a unit!(we don’t accept anymore for that reason.)
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Pet rent is a bit ridiculous imo, a 3br costs the renters the same regardless of whether 1 or 3 people live there, but capping a security deposit at an arbitrary amount is also dumb. I don't think it should be capped, but if it is, it should be a percentage of the rent as not all properties are created equal.
Subject Expert
It’s funny because Colorado has no security deposit cap. So just increase the security deposit and don’t call it a pet deposit.
Coach
You can and should still charge tenants for any damage done (by pets or kids or anyone) regardless of what the security deposit is. Pet rent is silly to me and I’ve never charged it. I do charge an additional small per security deposit, but I wouldn’t be opposed to a cap in theory. You’d just want to make sure the tenant has means to pay beyond what’s held for security if needed. Otherwise in low income areas I may just ban pets altogether.
Children cause a lot more damage to a place than pets.
This only hurts anyone’ who has homeowners insurance and renters with pets