Pets versus no pets at your rental property is our topic today, and it’s a big question that we often get. I’ve been doing property management for 11 years, and my recommendation is to keep your pet process open. A smaller dog upon approval with an extra deposit is the best way to go.
Protecting Your Property from Pet Damage
We take all the precautions we can, and it starts with an extra deposit. This additional deposit can be upwards to two times the monthly rent. This protects you from any potential damage to your flooring or sheet rock. We also require renter’s insurance and area rugs. Those rugs should protect the hardwood floors, and that’s what owners are most concerned about when pets are in the home.
Insurance Concerns and Dangerous Breeds
We also ask for photos of the dog. This is to protect against any dangerous breeds that a tenant might be trying to move in. We don’t want to allow dogs like Pit Bulls, Rottweilers, and German Shepherds. Your insurance company probably will not allow or cover those breeds. So, if your tenant tells us they have a Lab mix, and the picture looks like a Lab/Pit Bull mix, we’re going to stop that animal from being in your home.
Cats in a Rental Home
Cats can be more difficult. I have issues with cats and owners who have allergies. If our owners ever want to move back into the home and they’re allergic, it’s hard to get rid of the cat odor. Not a huge chunk of the market has cats, compared to dogs.
Vacancy Times and Pets
About 25 percent of the rental market has a dog. If we say no to dogs, that eliminates a large part of the market, and suddenly it’s harder to rent the home. So, the advantages of allowing dogs are that you can rent the property faster, get a higher rental amount, and the tenant tends to stay in the property longer.