How can a landlord properly handle pet deposits?

In Delaware, there are certain rules that must be followed when it comes to pet deposits. The law states that a landlord may require a pet deposit of no more than one times the monthly rent in order to insure that any damage caused by the pet will be covered. Additionally, the deposit must be held in a trust account with a financial institution and must be refundable at the end of the tenant’s lease. The landlord must also provide the tenant with a written receipt for the deposit. When the tenant moves out, the landlord must give the tenant a full refund of the pet deposit unless there has been damage caused by the pet. If there is damage, the landlord is allowed to deduct up to the amount of the pet deposit to cover repair or cleaning costs. If more than the amount of the deposit is necessary, the landlord is allowed to pursue the tenant in court for the additional cost. The tenant must be given an itemized list of all charges that are deducted from the deposit. Finally, the landlord is required to return the deposit within 30 days of the tenant’s departure. If the landlord does not return the deposit within the 30-day period, the tenant is eligible for double the amount of the deposit. If a landlord fails to follow the laws set out by Delaware regarding pet deposits, he or she may face fines and/or other penalties.

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How can a landlord properly handle pet deposits?

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