New Purchase with existing lease -- PETS on PREMISES

[Kalimah Jenkins]

Good Morning,

I purchased a 3 bdrm townhome on Friday with existing tenants (full time students).  The lease, due to expire on June 30, 2016, indicates no pets, but the tenants have a dog.  I am getting ready to write them a change of ownership letter.  How would you handle the dog issue?  While they seem to take care of the place with the dog.  I don't want higher insurance premiums and haven't had good luck with dogs in the past.  So, I tend to not have them in my properties.

At this time, I am just introducing myself by letter.  The rent is below market value and has to be raised on renewal, but I wasn't going to broach that subject in this first letter.  I do want to re-iterate rent due dates, how to pay, etc.

Any advice would be appreciated.