Should you allow your tenants to bring pets into your rental property? I think it’s a no-brainer, and here’s why.
If you’re a single-family homeowner/investor and are wondering whether you should allow your tenants to have pets or not, I’ve got some advice for you today. Pet deposits can be taken in addition to your security deposit and it can be up to one month of rent. You can’t take a child deposit or a spousal deposit, but you can take a pet deposit.
“More damage is done by termites and house guests than pets.”
I would say that seven out of every 10 applicants that are looking for a home to rent today have a pet. I will also tell you that pet owners are more conscious about their pets these days. A lot of times, more damage is done by guests, termites, and people other than by pets. The pet damage we’ve seen is actually very minimal, and if something does happen, you can just keep the deposit. A majority of the time, these dogs are 20 lbs or less.
Offering pet-negotiable living is one great way to increase the number of eyeballs, showings, and applications for your property. It really speeds up the process and the reward far outweighs the risk.
If you have any other questions for us, don’t hesitate to reach out. We would love to hear from you soon.