Pets, pet policies, pet insurance?

[Chelsea John-Williams]

I just bought my first rental property, fixed it up and posted an ad that on Craigslist/ Zillow. I have heard the horror stories about pets ruining properties so I wanted to allow small pets under 35 pounds but also require a pet insurance policy for the liability and a $250 deposit non refundable for the wear and tear. Too aggressive?? I appreciate all the input as I am still learning landlording.

[Mindy Jensen]

@Chelsea John-Williams , be careful of your choice of words. A deposit implies it will be returned in whole or in part. A fee is a charge that has no implications of being returned.

Many people will happily pay a one-time pet fee PLUS pet rent of $25-$50 per month for the privilege of having their pet. 

Just make sure you call it a fee if you do not plan on returning it.