What is downside allowing small dog in rental

[Joan C.]

Hello BP community,

I am wondering if I should allow small pet in the rental? We have hardwood and pergo floor in the rental, which is susceptible to water damage, is it worthy to accept small pet for extra $50/mo and a few hundred security deposit? If so, how to mitigate the risk of damages and the smell of the animal?

Thanks in advance for your input?