Hey everyone, I was talking with a friend of mine about a 5 bed 3 bath property I purchased in hopes to make it a large family rental. He asked if I was going to allow pets. In any other case I would definitely say no because of the extra wear and tear but he was talking about people with family pets.The house is already an older home and has a partially fenced in yard. A part of me thinks that it wouldn't be very difficult at all and I would attract more tenants. I looked at the other comparable rentals in the area and they don't allow pets at all so I would have an edge. Am I crazy for wanting to allow pets in the home.
My rehab strategy would simply change to leave the current carpet since they are in okay condition and I would probably add a doggy door to the bottom walk out since the door is a bit run down anyways.
Ask yourself why no other landlords in the area allow pets and you have your answer. If you do not mind taking the risk of extensive property damage, flee infestations, difficulty re-renting due to urine smell and every other possible problem then you are right. You will defiantly have a advantage finding a renter. Probably one with multiple pets as most pet owners like to have several.
Leave the carpet it helps to soak up the urine. The doggy door would maybe be helpful for those lazy owners that would otherwise let the animals go in the house.
Really it's a personal choice based on risk. I would charge a higher monthly rent, maybe $100-$200/month higher, as opposed to a pet deposit. If there are no places available for tenants with pets they will pay anything. Take advantage of their stupidity and make them pay if they want to keep animals in someone else's home..
Ask your insurance agent about pets (dogs) before you jump.
@Thomas S. hit all the right points.
Personally, I usually allow pets in SFHs, but I put in fairly cheap carpet, charge a pet deposit and usually raise rent a bit. I don't necessarily agree with Greg in calling them stupid for paying more to keep their pets, but to each their own I suppose.
The main thing to keep in mind is that there will be more wear-and-tear due to pets, even if the pets are housebroken and don't usually make messes. Like Deanna said, definitely check with your insurance regarding dogs, as most insurance agencies won't cover what they consider to be aggressive breeds, such as rottweilers, pit bulls, etc...
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