Tenant was “gifted” a dog

[Mark Frattini]

My property manager contacted me to let me know a tenant in one of my duplexes has been given a dog. They asked me if I would consider collecting a 200.00 pet deposit and 25.00 a month for pet rent or if I wanted to evict them. It’s a c class property with mostly hardwood floors. I’m waiting to hear back on what type of breed the dog is. If it’s an ‘aggressive ‘ breed I might ask them to get rid of the dog or start the eviction process. What’s everyone’s thoughts? In a perfect world the tenant would have asked first but the dog is already in the house. Does a 200 pet deposit and 25 pet rent a month sound fair? I’d like to keep the tenant in place and not deal with eviction and and temporary vacancy.

[John Warren]

@Mark Frattini My partner and I recently decided to accept pets into one of our new projects in Berwyn. The reasoning was that we could get an extra $25 per month for the pet rent. If you have a larger building, that extra $300 per year starts to make sense. Each pet is worth $4,285 in building value... My building has 19 units, so if I collect pet rent in 10 units I can refinance 70% of that $42,850 out when I pull cash out...

Little things like this can make a big difference over time!