Rental Property Investor 路 Mountain View, CA 路 Member since 2020 路 8 posts 路 3 votes
Hello fellow Landlords,
Good evening. I'm a new landlord and rented my property 3 days ago. This is my first rental. My property is in San Jose, CA. My property is a townhome with a hardwood floor. The tenants and me signed the lease agreement already. The tenants have paid me the security deposit. I said ok to small pets. I didn't tell them about pet fees and security deposits. The tenants are planning (considering) to foster a pet (dog or 馃悎) now. They asked me about the rules like renters insurance with liabilities etc. Since I'm new to this, I went through BP forums to learn about the pet policy and allowing foster pets. Along the way, I learnt that I can charge a monthly premium for a pet and a refundable pet security deposit.
I need your advice on the following:
1. Is there anything I should be careful about foster pet.
2. Can I charge a monthly premium and security deposit after signing the lease agreement?
3. Should I add anything specific in their renters insurance policy ?
4. I can add a pet addendum to my original lease agreement. Should I be any specific in that document?
If the tenant agrees to the pet fee you are good. It's after the fact. Some insurance carriers restrict certain dogs. Check your policy. I charge a pet fee of $250 per pet plus $35 per month, check state and local laws. Add this to your lease for the future. Make sure you have rules written for the tenant to follow. Your in a townhome you don't want an excessive barking dog. Check the HOA rules. Cats have minimal issues unless they start urinating outside the liter box. There urine is horrible and saturates subflooring where you will need special remediation if it's bad. Just a FYI, normally not a problem.
First off, I would require them to get a renters/pet insurance policy. If you are able to charge a monthly pet fee I would; not sure if you will be able to. In regards to the deposit; possibly make the deposit lower and nonrefundable? Also difficult to do at this point. Create a short addendum and see if they will agree or not.
If the tenant agrees to the pet fee you are good. It's after the fact. Some insurance carriers restrict certain dogs. Check your policy. I charge a pet fee of $250 per pet plus $35 per month, check state and local laws. Add this to your lease for the future. Make sure you have rules written for the tenant to follow. Your in a townhome you don't want an excessive barking dog. Check the HOA rules. Cats have minimal issues unless they start urinating outside the liter box. There urine is horrible and saturates subflooring where you will need special remediation if it's bad. Just a FYI, normally not a problem.