I'm not sure what YOU having pets has to do with your tenants. How would they know? Do you live in a duplex? It would be hypocritical to not allow tenants to have pets on the same property that you have pets. However, it IS your property and you can make any request you want. I'd just charge a pet FEE (not deposit which will be refundable less damages).
In my experience(3 dogs/1cat) It's insanely difficult to rent a home while having large pets, or more than one.
Allowing pets will put you ahead of other rentals and yes, you can charge more per month and have a pet deposit which should cover any expenses occurred by the tenant. Just be very clear on pets you will/will not allow, make sure you understand the support/medical/emotional pets laws in your state as well.
Ultimately, if you're screening your tenants correctly, you'll be choosing tenants who are responsible pet owners anyways....Hope this helps!
Your property your rules, you can do whatever you want but if you are looking for a "fair" solution you can split the yard with a fence so you each have your own private space.
Like the previous posts said, I would charge a pet fee and maybe even pet rent! It will make your property more competitive if you're pet friendly and you could possibly attract more renters. As was mentioned, make sure you comprehensively screen the tenant to see if they seem like they'll be responsible pet owners.
Thank you all for the advice, definitely a huge help!
@Ray Harrell I agree with you 100% it would be hypocritical, and I am not for that! I will be investing in small multi family. By not charging a deposit, It makes sense that would make the property more attractive to renters as well.
@John Bryson Really helpful! I will make sure I conduct intensive screening for responsible pet owners. Would it be necessary to even speak with an attorney then? Last thing I would want is to have a law suit on our hands
@Aaron K. Thats a really good idea, however, would this be legal in most states? I will be sure to keep the fence into consideration when I am running the numbers on my analysis.
@Katie Stewart I have taken everyone's advice into consideration, and I've come to the conclusion that I will charge a monthly pet fee with the rent. I will also make most of my properties pet friendly and not charge a pet deposit, this way it'll attract more renters. Thank you so much! =}
@Frankie Torres As long as you're comfortable with the laws in your state...(This should govern your leases as well) you may not need to consult with an attorney JUST for this issue....It's never a bad idea to run things by a real estate attorney anyways.
Charge a pet fee and if the market supports it also a monthly fee.
While it’s hypocritical I’m not sure it matters a lot. I’d suggest you allow some pets though as a lot of renters have them
@Frankie Torres I haven't looked at the laws intensely but my understanding is that a fence would be legal in every state similar to how you can fence off an area for a dog kennel or vegetable garden.
@Aaron K. That’s good knowledge I appreciate it!
@Colleen F. I’ll definitely put that into consideration. From the sounds of it, I’m leaning on assigning a weight restriction, and limiting the amount of dogs and breeds a tenant can have on my property. I’ll also charge a pet fee and depending on the situation I will have a backyard fence installed to split the yard.
@Frankie Torres , after reading the posts, it sounds like you won't be living on the same properties. In that case, if you don't want pets, don't allow them. I originally thought you were living in the same multi unit and forbidding pets when you, yourself have pets on the same property. You can disallow pets and limit your tenant pool but preserve your finishes (hopefully), or allow pets and cash in on responsible pet owners.
@Frankie Torres its the old "Don't do what I do, do what I say thing" :-). On a serious note the pet's that you have on the premises as the owner doesn't obligate you to accept pets in your property, (though you may want to pet friendly rentals are always in demand) just know that having the pets on the property might make some renters think twice about living there if they don't like dogs, have allergies etc
@Vaughn Smith haha, I hear ya ;D
That's good information to think about!
It’s probably not fair you drive a shiny new suv while the poor tenant is taking public transportation, it isn’t fair that you have new designer clothes while your tenant is wearing old Walmart clothing . There’s a lot of things in life that aren’t fair but that’s how it goes .you own the building so
Stop worrying about the tenants feelings . This is a business bro . You are doing this to make money not make people happy