No – unfortunately it is not that simple. There is no separate ‘pet Deposit’, only a single Tenancy Deposit for the entire tenancy which is one of the core terms in the Tenancy Agreement and in the Pet Policy attached to the Tenancy Agreement.
There are two reasons why a higher Deposit is typically taken for tenancies involving a pet:
- To cover the cost of any damage caused by the pet at any time during the tenancy
- To cover the cost of any non-compliance with the pet specific terms defined in the Pet Policy
…regardless of the length of time the pet has been at the property during the tenancy.
The process for releasing part of the Tenancy Deposit would involve bringing the tenancy to early end, assessing the property for any damage caused by the pet, releasing the Deposit, granting a new tenancy and re-protecting the Deposit.
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