Senate Bill 328
In July, Governor Neil Abercrombie signed a bill that will allow for landlords to collect a separate Pet Deposit in addition to the standard security deposit for all leases starting November 1, 2013 or later.
In the past, landlords were only allowed to collect a Security Deposit up to the amount of one month's rent and no more - any additional deposits were illegal to collect.
In this new law, it will allow landlords to collect a deposit for a pet for any damages they may cause with the following guidelines:
""Pets Only"" - you may NOT collect a ""Pet Deposit"" for assistance animals that are assigned to people with a disability.
Limit - the Pet Deposit cannot exceed the amount of one month's rent.
Start Date - only affects leases starting on or after November 1, 2013.
Refund - if there are no damages to the property from the pet, the deposit must be returned in full to the tenant - similar to how you would treat a Security Deposit.
This will hopefully give an incentive to home owners to allow pets more often for their rentals, knowing that a Pet Deposit will encourage pet owners to be responsible.
Posted By:Amanda Frazier
Cornerstone Properties
Property Manager and Chief Operating Officer
