Should you allow pets in your rental property? This is a common decision that landlords face. Perhaps you have too.
For most pets, there are minor risks involved, such as damage to floors, walls, door or window frames, and the yard. Yet, there are strong benefits to renting to tenants with pets. It widens your pool of potential renters, helps differentiate your property from other available rentals, and can help you retain great tenants.
In most cases, implementing a pet agreement and collecting extra money in the form of deposits, fees, or rent is all that’s needed to protect your interests.
I’ve already shared thoughts about the importance of screening tenants and long-term occupants of your property. It is also important for landlords to review and approve creature “tenants.”
Landlord Mistake #5 is handling pet predicaments poorly.
Here are some things to consider:
Temperament is important. If you are able, research the animal’s history and avoid pets that have a bad reputation.
Ask your insurance company if they have a dangerous pet list. It may be best to avoid pets that insurance companies consider risky.
Take action if there is a significant offense. You may be considered responsible for injuries the pet causes if you knowingly allow a dangerous pet to remain on your property.
Make sure the tenant’s pet complies with zoning laws. For instance, does your area allow urban chickens?
Abide by the law. Some pets are a fair housing issue because they are service or support animals. You must allow them and may not be able to charge additional money for them.
Wow – that’s a lot to think about! Thankfully Pro Property Management team has the knowledge and experience to do this thinking for you. That’s one of the benefits of hiring us to manage your property. We already know what we’re doing!
While I’m happy to share our expertise with you through this email series, nothing takes the place of ongoing professional property management.
Let’s talk about your needs soon! Call us to schedule your free consultation.