Pets, Planning and Profits

[Logan M.]

Last week I was watching a presentation from one of our most respected local investors. He said something about pets that I felt would be valuable to share.

This investor said "I love pets,  they equal profits", this traditionally has been a sticking point for a lot of investors.

Here is the facts:

1. Service animal laws have made it impossible to eliminate pets.

2. Pets typically cause less wear and tear on a property than the tenants themselves.

3. You can charge for pets

4. If you dont allow pets then the pet becomes a service animal without very much difficulty for the tenant.

5. Most people would rather pay a pet fee than go through the work turning a pet into a service animal. 

6. 80% of tenants have pets.

if you plan ahead for pets you can make your property nearly indestructible. Protect yourself with sufficient deposits and let the tenant know they probably will be paying some of the deposit towards pet damage.

Allow Pets, Plan for Pets and Profit from Pets.

[Scott E.]

Good perspective. Not going to lie I didn't believe you on #6. But I googled it and you're right. The range varies depending on the source but sounds like ~80% of renters have pets. Pretty shocking stat.