Why You Should Have A Clear Plan For Pets With Your Rental Properties

Posted on: 4 June 2018

If you are not sure how to handle this issue with your rental properties, talk to a property management firm. Property managers do this for a living and know the ins and outs with rental properties, and they can help you determine how to handle pets and other tough issues landlords face. Here are some tips to use if you are considering allowing pets in your rental properties.

Determine what types of pets you will allow

As the landlord of the units, you can determine what types of pets you will allow. For example, you might state that fish, birds, reptiles, and rodents are fine, but you will not allow cats or dogs. You could also state that you will allow cats and dogs, but you could put limits on the sizes or breeds. For example, you could allow dogs in the units if they are 50 pounds or less. Setting concrete rules in place for the types of pets you will allow is the best way to handle this.

Charge a pet fee 

Secondly, you have the right to charge fees for the pets if you want to, and you should do this for protection. If you want to do this, there are a lot of different ways you could handle the fees. One option is to simply charge a pet deposit fee when you rent out the unit. You could charge $100 or more for this deposit, and the tenant could get this money back when he or she moves out if the pet has not caused any damage to the unit.

A second option is to charge an extra fee each month for the pet to live there. You could charge, for example, $25 per month extra for the pet to live there. With this type of fee, you would not have to return the money when the tenant moved out, and you could even charge this type of monthly fee and a pet deposit fee if you wanted to.

You should take this seriously

Having good rules in place and extra charges for pets is vital if you are a landlord, and this is primarily because pets can destroy homes. If you decide to accept pets, make sure you create a written plan relating to pets and make sure you enforce the rules stated in your plan.

If you are having trouble with tenants and pets or any other issue, now might be a good time to hire a property manager to help you manage your rental properties.