Accept Pets or Too Risky?

[Alysha Pederson]

Hello BP, 

My name is Alysha and I have a property in Littleton CO. I recently posted asking about pet fees/ deposits, but I am starting to wonder if accepting pets in general is simply too risky? 

How many of you do or do not accept pets and why? 

For those of you who do accepts pets what are your guidelines? What pets do you allow? Do you have breed restrictions? What do you put in your lease to protect yourself? 

I was considering accepting pets on a case by case basis, and simply interviewing each tenant and even meeting their pet... But am I putting in too much effort for a potential risk. Pro vs cons? 

Thank you, 

Alysha

[Scott Trench]

In Colorado, I accept pets. 

I find that the applicant pool is drastically more qualified (meaning I can charge more rent and still get qualified tenants) when I allow pets, and in particular medium and large dogs. 

I charge a pet fee, and monthly pet rent, and so far this has worked well for me. Pet owners here seem to stay longer, and I have had relatively rare damages from pets, at least with tenants who I or my property manager have placed (not the same story for some inherited tenants).