5 min read
Portable Tenant Screening Report: A Comprehensive Guide
Discover the benefits and considerations of Portable Tenant Screening Reports (PTSRs), which offer a cost-effective, reusable screening option for tenants and require...
Pet rent is a monthly charge a tenant pays to keep their animal in the rental. Service animals and emotional support animals (ESAs) cannot be charged additional fees, including pet rent, per the Fair Housing Act.
According to the legislation, “An assistance animal is not a pet. It is an animal that works, provides assistance, or performs tasks for the benefit of a person with a disability, or provides emotional support that alleviates one or more identified symptoms or effects of a person’s disability.”
According to Petfinder’s study, pet rent premiums were 20-30% of the average rent. Check your local landlord-tenant laws to see if they specify the amount of pet rent you can charge.
For the time being, let’s use the average pet rent premium to illustrate how you could increase your profits by renting to pet owners. If you charge $1,000 for a pet-free unit, you could bring in $1,200-$1,300 by allowing a four-legged tenant.
Assuming your local laws don’t forbid charging pet rent and a pet deposit, you can charge both. The pet deposit is a one-time, often refundable fee paid upon move-in whereas pet rent is an ongoing fee paid monthly.
Just be sure to research what other landlords are charging in your area so your pricing remains competitive and attainable.
No, pet rent doesn’t cover damages caused by non-human tenants. A pet deposit can be used to cover pet damages (and only pet damages), but you must provide your human tenant an itemized list of charges if you’re not returning their full pet deposit.
NEWSLETTER SIGN UP
TheKey is the weekly newsletter for landlords, by landlords.
Subscribe to get tips, news, and hacks for even the most seasoned landlords.
5 min read
Discover the benefits and considerations of Portable Tenant Screening Reports (PTSRs), which offer a cost-effective, reusable screening option for tenants and require...
5 min read
Do you know who’s moving in? Without a thorough tenant screening report, you leave yourself open to financial harm. But when you...
9 min read
TurboTenant leads as the best landlord app of 2024, offering a suite of essential property management tools—from tenant screening to rent collection—designed...
5 min read
Discover the benefits and considerations of Portable Tenant Screening Reports (PTSRs), which offer a cost-effective, reusable screening option for tenants and require...
5 min read
Do you know who’s moving in? Without a thorough tenant screening report, you leave yourself open to financial harm. But when you...
9 min read
TurboTenant leads as the best landlord app of 2024, offering a suite of essential property management tools—from tenant screening to rent collection—designed...
Join the 550,000+ independent landlords who rely on TurboTenant to create welcoming rental experiences.
No tricks or trials to worry about. So what’s the harm? Try it today!