Having pets in your rental units adds liability and costs. But there are still ways to manage your property and remain pet-friendly while minimizing your liabilities. Here’s how.
Should Pets Be Allowed in Rental Properties?
The typical answer is yes, but with restrictions and at a cost.
Pets are everybody’s best friend. But does everybody take care of their pets, and does the pet take care of the property?
We typically increase the rent by a certain amount every single month. In different states, they might allow you to take additional pet security. In Massachusetts, however, that is not allowed.
So, what we do is increase the rent for you to be able to make more income as a landlord. In addition, we add on inspections through the property to ensure that the pets are “taking care of the place” and that nothing is being damaged in your unit.
How to Make Your Property Pet-Friendly
My property management company has a pet lovers guarantee and screening application process for tenants with pets.
Aside from the walkthrough inspections, make sure that you have restricted breeds. That means your property insurance should say you are not allowed to have certain breeds on the property, such as Dobermans or Pitbulls.
You should also limit the pet’s size and weight. It is usually limited to 25 pounds, typically restricting bigger breeds.
When the tenants go through the pet application process, you can also charge them for monthly damage protection.
Doing these will make you stand out because most landlords won’t allow pets in their units. We respect that, but there are still ways to make any unit pet-friendly while protecting it from any possible damage.
The Landlord Tutor Promise
To know more about managing pet-friendly units and whether you should allow pets, join the Landlord Tutor community and sign up here.
