When renting a home or apartment, many landlords require tenants to pay a security deposit to cover potential damage to the property. However, if you have pets, an additional fee may be required—a pet security deposit. This deposit is specifically meant to cover any damage your pet might cause to the rental property, such as scratches on floors, chewed furniture, or other types of wear and tear.
The amount of a pet security deposit depends on the landlord, the property, and even the number or kind of pets you have. Some landlords have a set fee, while others look at your pet's size or breed. It's all meant to protect the landlord, but it can also give you peace of mind knowing you're covered if your pet has an accident. This article breaks down everything you need to know about pet security deposits, including typical costs, refund policies, and what to expect when renting with a pet.
Is a pet security deposit refundable?
Unlike a standard security deposit, which is typically refundable at the end of your lease if the property is in good condition, a pet deposit works differently. You’ll generally get the full deposit back if your pet causes no significant damage. However, if your pet leaves any mess or damages the property, the landlord can use part or all of the deposit to cover the repair costs. Be sure to carefully review your lease agreement, as each landlord may have different policies regarding pet deposits and their refundability.
How much do pet security deposits typically cost?
The amount of a pet security deposit varies but is usually between $100 and $500. It depends on many factors, such as your landlord's rules, the size of your pet (or breed), and the nature of the rental. Some landlords have a set price, while others might charge more if you have a big dog or a breed they consider high-risk.
The landlord might increase the deposit if you have multiple pets. It’s necessary to read your lease agreement carefully to get all the details about your pet deposit, such as how much it is and when you might get it back, which will be spelled out. Note that landlords cannot charge a security deposit for a service animal according to the Fair Housing Act (FHA) laws.
How does a pet security deposit differ from pet rent?
A pet security deposit and rent are sums paid to your landlord for your pet, but they work very differently. A pet security deposit is like a one-time payment. You put it down when you move in, along with your regular deposit. The idea is that it covers any damage your pet might do. If your pet's been a perfect angel and the place is in good shape when you move out, you should get that money back. But if they've left stains on the carpet or scratches on the walls, the landlord can use the deposit to pay for repairs.
Pet rent is something else entirely. It's a monthly fee that some landlords charge on top of your regular rent. Think of it as paying extra monthly to have a pet live there. And unlike that deposit, you don't get this money back. It's just an ongoing cost. Pet rent amounts vary but are often between $25 and $100 monthly. It can also change depending on your pet’s breed and size or if you have more than one.
Protect Your Home and Pet with SelectQuote
Understanding the terms of pet security deposits and pet rent can help you plan and budget accordingly when renting a home with pets. While these fees vary, it's essential to ensure you’re fully prepared for any costs related to your furry companions. In addition to these rental-related fees, protecting your home and possessions with renters or home insurance can offer extra peace of mind.
At SelectQuote, we offer comprehensive renters and home insurance options to help safeguard your belongings, including any damage caused by your pet. Renters insurance can help cover the cost of personal property replacement, liability, and even pet-related damage, depending on the policy. With 40 years of experience, our licensed insurance agents make it easy to compare quotes from trusted providers, ensuring you get the right coverage at a price that fits your budget.
