What's Your Take on Pet?

Question

Good day, BP community!

I am looking for your opinions, advice, horror stories, etc on renting to pet owners. I currently own a 4-unit multi-family with a "no pet" policy. Recently, I have had to turn away two perspective renters because they were looking for something pet friendly. What is your opinion on renting to pet owners? Is it worth it to open up your properties to them? What kind of monthly fees or deposits do you charge? Are there any special clauses you include in the lease?

Obviously I am not including service animals in this discussion since they are a protected class. I'm just talking about your general pets.

Thanks in advance!

John Underwood · Answer

@Ben G. Say yes to pets. Non agressive breed dogs or your insurance company may cancel your policy.

A Pet fee is free money.

I make all my properties pet friendly by eliminating carpet. Carpet gets ruined too easily even with no pets.

I use vinyl strip flooring that looks like wood floor. I have not had any damaged (so far) and I have been using it for awhile now.

I would say that by not allowing pets your eliminating over half the potential tenants that are looking for a rental.

Dustin Beam · Answer

I used to have a no pet policy. I still don't want them, but I'll take them at a $100/mo pet rent. That is unquestionably steep, but that's up to the applicant if it's worth it or not. If it is worth it, I'll be ok with it. If the price is too high for the applicant, I'll be right where I would have been had I turned them down in the first place.

Paul Choi · Answer

and a monthly pet rent...$20 to $50 a month.

Michael B. · Answer

Whats the theory behind asking for a $300 pet fee +$25/month vs just doing $50/month?  Is it just in case a tenant doesn't stay a full year?

Thom S. · Answer

@Doneshia Marinnie Would you be willing to share the language you use in your pet addendum? It sounds like you know your way around this issue!

Josh Engelhart · Answer

From research I've seen you cut your potential renter pool in half if you don't allow pets. I would definitely charge more if you do and think carefully about the condition of the house. Best case scenario your unit gets a lot dirtier and you make a little more in rent. Worst case scenario you get serious damage or a lawsuit from a bite.

I personally look at it on a case by case basis.

George Skidis · Answer

Each property has its own issues and each pet as well. A 4 family unit rules out large dogs so medium to small dogs and cats sounds about right. Certain breeds of dogs cannot take living around noise. My mom has a Yorkie and it barks and yaps at every noise all night. Not good if the other tenants are sleeping.

So our answer is - Bring your pet by the office and let's get acquainted. Take the pets photo, get proof of insurance, shot card registration, rabies and whatever else makes you safe and then I have no problem renting to pets.

If they pass that inspection show up at their current residence and ask to go inside and inspect for pet damages. That is where you find out who to rent to. Could be tenant damages as well.

For single family homes where the carpet is decent but will need to be replaced next time. Good place for pets. If the tenant is happy they will stay a little longer than the carpet would suggest "Just" because you accepted a pet.

All of our leases says no pets. We have a pet agreement that bypasses that when needed.

That being said look at the owner. If they have a broke down car with 100 lbs of dog food in the back, The dog is their biggest issue.

Pets who get all their shots and are well cared for cost the their owners between $1,000 to $2,000 a year. That is per pet.  Factor that into your income analysis.

Doneshia Marinnie · Answer

Hi Ben, as previously mentioned, I would make sure you have a non-refundable pet deposit, with a monthly pet rent fee in place if you decided to accept pets. However, making sure you have a pet addendum that indicates the rules and regulations surrounding the pet is crucial.

When we know there is a pet, we will perform routine inspections of the dwelling (which is a clause listed in the pet addendum) to ensure there's no damage being done to the property (outside of normal wear & tear). If we find damage, then we send the violation notice and charge the residents account for the repairs to be done (which is all stated in the violation letter). If it is a reoccurring issue, then we send our notice to cease and begin the eviction process. This way, 1) if they are not caring after their pets the way they are supposed to - you charge them for the damages in real time versus at the end of their lease term (hoping there's enough in the security deposit) and 2) you're not surprised when they finally do turn over keys.

Good luck!

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