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Updated over 7 years ago on . Most recent reply

User Stats

450
Posts
270
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Chris Eaker
  • Buy and Hold Investor
  • Knoxville, TN
270
Votes |
450
Posts

Transferring Pet Fee?

Chris Eaker
  • Buy and Hold Investor
  • Knoxville, TN
Posted

I am selling one of my rental properties. The current tenant paid a $600 pet fee (2 pets @ $300 each). The lease calls this a pet fee, not a pet deposit, and states it is non-refundable. 

The buyer has rightly requested that the tenant's security deposits be transferred. Of course, no problem there. But they also asked that the pet fee be transferred. I have two questions related to that:

1. I believe I am correct in denying that request to transfer the pet fee. It's not a deposit. It's non-refundable. It's a one-time fee for the privilege of having a pet. What do you think?

2. I will be assigning the current lease to the buyer, which goes through the end of next April. Can the new owner charge the tenant a new pet fee when they take it over? I don't think they can as long as the current lease is in effect. If they sign a new lease with the tenant after the current lease expires, can they charge a new pet fee then?

Most Popular Reply

User Stats

450
Posts
270
Votes
Chris Eaker
  • Buy and Hold Investor
  • Knoxville, TN
270
Votes |
450
Posts
Chris Eaker
  • Buy and Hold Investor
  • Knoxville, TN
Replied

Thank you @Tracy Streich and @Josh July.

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