A common question we receive from owners is about pet rent — specifically, “Why don’t I get to keep it?” It’s a fair question, and the answer comes down to risk transfer. Here’s how Freedom Realty structures pet policies and tenant requirements to protect your property and your investment.
Pet Fee vs. Pet Rent: What You’re Actually Getting
Many property management companies charge “pet rent” that gets passed through to the owner. We do things differently. Instead of pet rent, we charge tenants a monthly “pet fee” that the management company retains — and in exchange, you get real, tangible benefits that pet rent alone doesn’t provide:- Professional pet screening and animal background checks on every applicant with a pet, so we know what’s actually moving into your property.
- An additional $1,000 in pet damage liability coverage that sits on top of your standard security deposit — essentially a built-in insurance layer specifically for pet-related damage.
Run the Math: You’re Likely Money Ahead
Here’s where it gets interesting. Most pet rent charges run somewhere in the $25–$35/month range. If a tenant with a pet stays under three years (which is the majority of tenancies), the total pet rent collected typically comes in under $1,000 — and that’s before fees come out. And those fees do come out. When other property management companies charge pet rent, they commonly take their management fee percentage off the top, because pet rent is treated as rent. So the owner doesn’t even keep the full amount. Compare that to our model: if there’s pet-related damage at move-out, you have access to a full $1,000 in pet damage coverage on top of the security deposit — more than you’d likely have netted in pet rent over the life of the tenancy. If there’s no damage, you’ve still gotten the screening and the peace of mind. Either way, the structure is built to come out ahead for the owner.A Note on ESAs and Service Animals
Under fair housing law, we can’t charge a pet fee for an Emotional Support Animal (ESA) or a service animal. Because the fee is what funds the additional $1,000 in pet damage coverage, that extra coverage doesn’t apply in those cases either. The premium security deposit still does, which is exactly why we structure it that way — it’s the protection that holds up regardless of how an animal is classified.Why We Don’t Charge a Pet Deposit
A pet deposit sounds owner-friendly on paper, but it has a significant weakness: pet deposits are negated when the animal is an ESA. If we collect a pet deposit and the tenant later qualifies their animal as an ESA, that deposit has to come back. Our solution: we charge a premium standard security deposit — $300 above one month’s rent — on every new tenant placement. Standard security deposits remain fully collectible regardless of ESA status, so your protection doesn’t disappear because of how an animal is classified.Renters Insurance Requirements
Every tenant who signs our lease is required to carry renters insurance with these minimums:- $100,000 in liability coverage
- $25,000 in pet bite insurance
- $1,000 in mold remediation coverage
