At Hendricks, we have decided to take a new approach to pet deposits: remove them all together. Crazy, right? Instead, we will now be collecting a pet fee of $250 per pet. This fee is non-refundable and will be held in a separate account.
With the introduction of the pet fee, HPM will guarantee that our owners will be covered up to $1000 in damages caused by the tenants' pets, over three times the coverage that they were provided with before. Previously, with the $300 pet deposit, the owner was only guaranteed repairs up to a $300 limit. Let's be honest, we all love our furry, fluffy companions, but sometimes, they can wreak havoc whether it be hair, bad odors, or if little Rover was going through his teething stage and decided to take it out on your dry wall. Whatever the story may be, we've got you covered.
You may ask yourself why in the world you would even want to allow pets on your property. The answer is that it is estimated that around 72% of renters have pets. If you were to not allow pets on your property, the prospective tenants for your property would automatically be reduced to only 28% of the population looking for a rental home. It could take around 2-3 times as long to rent your property over a similar property that does allow pets. We believe that switching to a pet fee will be a solution that helps our owners sleep easier knowing that they are covered.