Evans, GA · Member since 2015 · 35 posts · 3 votes
I just purchased my first investment property! Finally...
Well I actually don't close until this afternoon, but I went ahead and put it on Postlets yesterday and got a bite. The gentleman emailed me asking if I allow pets. Initially, I was against dogs AND cats, but I feel I may be losing an opportunity at a potential tenant.
It's a single family home in the 130-150kish range. I have a big backyard, but no fence.
What are your opinions on this? Am I jumping the gun, since it's only been 1 day on the market?
Lender · Las Vegas, NV · Member since 2015 · 2k+ posts · 1k+ votes
10y
I allow pets in all my rentals. I obtain a separate and non-refundable pet deposit of $250 per animal (I limit the number of pets to 2 dogs and 1 cat), and I require tenant to get a liability policy of insurance naming me as an additional named insured to protect them and me from potential damages for dog bit incidents.
Rental Property Investor · Saint Louis, MO · Member since 2016 · 162 posts · 53 votes
10y
I charge a pet fee, but I also charge $15 a month per pet. Over the course of the tenants stay, you should still be able to make a couple bucks on the pets.
Investor · CO · Member since 2011 · 107 posts · 28 votes
10y
I also allow pets. As others have said, not allowing them here in Colorado would definitely limit the applicant pool.
I have both a non-refundable pet fee, and a refundable pet deposit. The non-refundable pet fee is used for "a disinfecting/sanitizing carpeting cleaning". The refundable pet deposit is to cover any true damage that the dog(s) may cause.
I really would prefer to not have cats in the properties, but I have allowed them in a couple of cases, and I've not had any issues.
Someone noted putting a size limit on dogs. I am a life-long dog owner, and I have had many breeds/sizes. I have to say that larger dogs are, in general, calmer and less damaging. So I would never limit the size of dogs. And all other things being equal, I would choose renters with large dogs over ones with small dogs.