The Difference between Pet Deposit, Fee, and Rent

Pet Deposit - A one-time fee that protects the landlord and the property from damages made by a pet. It may or may not be refundable depending on the condition of the unit once the tenant moves out. If there are damages, the pet deposit will cover the repairs. If not, the tenant gets to keep the deposit.

Pet Fee- A non-refundable charge tenants pay in a rental unit for the privilege of keeping a pet with them. Like a pet deposit, it is also a one-time fee.

Pet Rent - A recurring charge that is added to a tenant’s monthly rent. Like a pet fee, the pet rent is also for the privilege of keeping a pet in the apartment unit.

Source: The Motley Fool

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