Tenants resign, do I charge again for pet deposit?

[Colin Carr]

Hello BP My tenants are resigning and have a dog. I charged them a $300 per fee at the initial signing. Is it typical to charge them again when they resign? On one hand I can see them not being happy about that, on the other, they are staying longer and thus increasing the time the animal may do damage. I'm conflicted. If it matters any, I am in the Denver market, in case it varies by location for some reason. Thanks! Colin

[Thomas S.]

When you rewrite the lease consider adding the cost on to the monthly rent instead of a one time charge. That way they continue to pay monthly for the privilege of having a pet for as long as they are a tenant and the fee increases along with the rent when you do your annual percentage rent increases. Win/Win