@Michael Slot - Is it cheaper to keep the tenant or to loose them and turn the unit. To me, having a master bedroom painted is an easy request and one I would probably agree to for another year lease.
For the pets, it is really up to you. It would be easy to say no and justify it with the fact that the unit was just renovated. If you do want to say yes, say yes but say there is a pet deposit and fee. Maybe at $25-$50 a month to the rent and increase the deposit by $250.
You can let them paint the master to whatever color and just tel them they have to paint it back to the original color at the time of leading when they move out or you will deduct from their security deposit.
Not sure about the pet situation. I had never stop renting because of pets. I would draw up a pets agreement, ask them to get pet insurance and additional money for pet deposit.
In terms of the pet, I've always allowed pets although now its just dogs. In my area, not accepting pets really cuts down the number of tenants really quick. And the people with pets tend to stay longer and be better tenants - at least for me.
I would say yes and charge them a pet fee of $300 (nonrefundable).
In terms of repainting the master after a year, why not. If they move, we're probably going to have to repaint it anyway. Keep your tenant and pay the painter to paint the room now. Thats actually pretty cheap.
That would be what I would do.
Thanks for the feedback. Just to update you.
I️ negotiated a $300 nonrefundable pet deposit plus $50/mo pet fee. My thought process is I️ will have to replace the carpet when they move out anyway (I️t will be 4 years old at the end of their lease) and the pet markup will essentially pay for that.
As far as the paint goes I️ offered to repaint whatever room they wanted as long as they bought the paint and I️ approved the color first. I like the idea of keep good tenants happy and paint is an easy way to do that. I️ did add a $100/room repainting clause to the lease. That way my labor is covered for when I️ paint I️t back once they move.
Thanks again for the advice.
If theire good tenants. YOU have the room painted in a color agreed by both. Charge additional pet rent if you wish to. Just don’t go crazy with pet rent.
For me it would be yes to the paint and no to the pet.
I would say yes to both. I agree allowing pets keeps your tenants happy. I only charge a $250 pet deposit, no monthly. That's just me though.