NO PETS! PERIOD! RIGHT OR WRONG?
I speak to many owners about why they should or should not allow pets in the rental property.
There are always those underlying fears that a tenant will allow their pet to destroy your property. This may have happened to you in the past already, or you may plan to move back into the property in the future and you have extreme animal allergies, or maybe you’re just not a pet person. All of these are valid concerns.
However, as a landlord, you should compare the pros and cons before making a final decision on pets.
Larger Prospect Pool:
According to Harris Poll Survey, 3 in 5 Americans have a pet. With this information we can say that when pets are accepted, you have a much greater chance of getting that ideal tenant. Accepting pets will make your property stand out over other properties that do not.
Due to additional fees that come with having a pet, once a pet owner takes occupancy of a pet friendly rental, they are less likely to move again.
To Sneak or Not To Sneak:
When a property is pet friendly, there is no reason for the tenant to sneak a pet into the rental unlike those properties where pets are not allowed.
There is a risk of the pet damaging the rental property. They can scratch the walls, eat the baseboards, or rip the carpet. They can also bite or injure a person or other pet. You want to check with your insurance company to determine if you, the owner of the property, are covered in case anything happens. If not, you could ask about riders or umbrella policies to better protect yourself. Additional coverage measures would be to collect fees, deposits, and maybe have the tenant get canine insurance.
Regardless to your decision to accept pets or not, should a potential tenant have a Service Animal or Therapy Animal, they cannot be denied because of the animal and they cannot be charged any fees or deposits, per Federal regulations.
These are a few examples of the pros and cons of pets and rental properties that you will need to consider while making your decision.
Anchor Real Estate& Property Management are not attorneys and this is not to be considered legal advice. Consult your Florida Real Estate Attorney for guidance and legal advice concerning the process with your rental property.
Or you could call Anchor Real Estate & Property Management today so we can tell you how we can be beneficial to you. Let us be your ‘Anchor’ to a successfully managed rental property.