1st door rookie questions
Just wanting some opinions on whether or not I should allow pets? Any thoughts? My gut says no way, but I don't want to turn down a potential renter.
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Hi @John Townsend, I'm a Property Manager in Central Florida. We are a part of NARPM (National Association of Residential Property Managers) and the statistics that came out in 2019 showed over 60% of individuals looking to rent have a pet of some kind. Making a "No Pet" policy would take a way a good portion of your potential qualified renters.
We have a TON of pet friendly owners and properties. In our market, asking for a one-time non-refundable Pet Fee and Pet Rent is very reasonable and helps mitigate the risk a pet(s) can cause. There is risk with some pets, however I would be weary of how much you charge so as not to turn off great applicants. I would also call around to local PMs and see what their standard pet policies are.
I would start with $250 Pet Fee for one pet and $500 for two pets (max). I suggest a $25 Pet Rent per pet (2 Max). You could possibly charge a higher Pet Rent of $50 for a larger pet, but be careful not to increase both and turn off your potential renter. Remember that you should still have a Security Deposit equal to at least 1mo rent.
Wish you the best on your journey :)