Jetty Pet: A win-win for pet owners and properties
We’re excited to announce Jetty Pet: a flexible alternative to pet deposits that enables properties to get the protection they need against pet-related damages, without increasing move-in costs for renters.
According to Jetty’s nationwide survey of U.S. renters, more than 70% of pet owners have decided not to apply to a rental home or apartment because the costs to have a pet were too high.
This means that high pet deposits are not only stressful for renters, but can cause property managers to miss out on great residents.
Still, the reality is that pets present a real risk of damage. And that’s why we created Jetty Pet.
More protection against pet-related damages
Many properties mitigate the risk of pet damage by charging a pet deposit of around $200—$400 in addition to the standard security deposit. In theory, this deposit should cover any pet-related damage in the unit. Unfortunately, some pets are capable of causing more damage than these small deposits will cover.
With Jetty Pet, properties can get the coverage they need.
For example, let’s say a property charges a resident a $200 deposit before allowing them to move in with a dog. While left home alone, the dog chews and destroys an interior door that will cost $300 to replace, leaving the property with a loss of $100.
If the resident had purchased Jetty Pet instead, and paid a fee of $200, the property would’ve had $1,000+ in coverage—more than enough to cover the cost of the repairs.
Low move-in costs for renters with pets
When setting standard pet deposit amounts, properties are often forced to choose between getting the protection they need and keeping move-in costs low for residents. For example, a large dog may be capable of causing $1,000 in damage to a rental home—but a deposit of this size could be cost-prohibitive to many renters.
With Jetty pet, there’s no need to choose.
Properties can get the protection they need, while keeping move-in costs low: a win-win solution for pet-friendly renting.
Simplified leasing experience and reduced overhead
Many of our Partners have already used Jetty to eliminate security deposits, simplifying the leasing experiencing and reducing the overhead involved in managing cash deposits. But some of these same properties are still collecting traditional cash deposits for pet coverage.
Paying multiple deposits (and multiple types of deposits) can be confusing and frustrating for residents. It also slows down the leasing process and creates more work for property managers
With Jetty Pet, both deposit types are rolled into one easy fee—making it even faster and easier to sign leases for renters with pets.