This bill establishes new regulations regarding pet ownership in rental properties in Oklahoma. It allows landlords to require either a pet deposit or a pet fee from tenants who own pets. The pet deposit is defined as a refundable, one-time payment that covers actual damages caused by the pet, and any unused portion must be refunded to the tenant. In contrast, the pet fee is a nonrefundable, one-time charge that is not tied to actual damages and cannot be charged in addition to the pet deposit.

Additionally, the bill explicitly prohibits landlords from charging pet rent, which is defined as a recurring payment for having a pet on the leased premises. This legislation aims to clarify the financial responsibilities of tenants with pets while protecting them from ongoing charges related to pet ownership. The new law is set to take effect on November 1, 2026.