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Updated over 5 years ago, 07/02/2019
Pets or no pets?
I understand if you allow pets, you're opening doors for whole nother sector of renters' market
Why else would you do it? Higher rent? :roll:
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#2 Questions About BiggerPockets & Official Site Announcements Contributor
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Pet fees can add up as well . . .
I prefer no pets. But it all boils down to their owners.
I charge a non-refundable pet fee of $350.
I think that too many people have pets for you to completely disallow them.
We have a list of dog breeds which we do not allow for insurance purposes. We also have a weight limit for dogs. We charge a refundable pet deposit plus $20/mo pet rent which is nonrefundable.
I didn't realize I could ask for non-refundable pet fee AND addtl pet rent. Nice to know
I've been lucky enough not to have any pet owners yet. I think the fees and extra deposit would make it worth a look though. Pets are negotiable; smoking in the house isn't.
I allow pets in my rental with a 200.00 non refundable pet deposit. I also pick my rent up every month so I know how my house is being treated. IMO I think it makes me sleep better at night to know what the pets are doing in my house so its worth it for me to stop by and pick up the rent check. So far so good,
Originally posted by Josh Tollenaer:
How many rentals do you have?
thanks
When charging non-refundable pet fee, how do you calculate it? Cost of shampooing the carpets?
I allow pets. However, I charge 1.5 month's rent for a security deposit with pets. If there are no pets, then the deposit is one month rent.
At least if the tenant feels they stand a chance in getting the deposit back at the end of the lease they're more likely to ensure the pets don't trash the house. If you charge a flat fee on top of the rent to cover pet damage, who's to say the amount you collected will cover the damage? If the tenant has a vested interest in knowing that they could get the money back (assuming no damages), you'll be further ahead in the long run.
I also have breed restrictions. My insurance company doesn't have any restrictions, but I do.
Can you charge for replacing the carpets in certain rooms (spots or smell) without running into "it's normal wear and tear" resistance?
Keep it simple. You don't want to completely exclude them as it will diminish your potential tenant base.
Charge a flat fee $300 dog, $200 cat. This is nonrefundable. They should not be surprised by this as everyone else is charging it too. Rarely will you find an owner allowing pets with no extra fees.
Have an addendum that they sign stating that the are paying a NONREFUNDABLE pet fee and they are allowed to have 1 dog, 1 cat etc. You can use this as a lease violation if they pay for 1 and you show up for maintenance, etc and they have 3. You will then get the "i am watching this one for a friend" excuse, but just follow up in a timely fashion.
Yes, in some appropriate houses (no new carpet, etc), with deposit and monthly fee.
I allow 1 dog under 50 lbs with $250/dog non refundable pet fee. It would have to be little dogs to have more than that. I also let them know that any damage will come out of their regular security deposit, not the pet fee.
Absolutely no cats. Ripped up carpet is much much easier to deal with than cat urine.
Originally posted by George P.:
Take these costs into consideration when calculating the pet/rental deposit. You should be able to deduct it from the deposit after vacancy and be sure to give yourself enough time (30+ days) to return deposit so you can take care of all the repairs before giving any money back. There should be no resistance if you include an itemized account of what you spent the deposit on with the refund (or letter explaining why there is none).
Originally posted by Nick Henson:
Be aware of whatever time limits are set by your state or local laws, as many do not allow you over 30 days to account for security deposit money.
Originally posted by Steve Babiak:
Originally posted by Nick Henson:
Be aware of whatever time limits are set by your state or local laws, as many do not allow you over 30 days to account for security deposit money.
Steve, good point
MD allows 45 days
Originally posted by Steve Babiak:
21 calendar days in California, FYI.
of COURSE majority of people answering allow pets and shame landlords who dont. Yet looking for a place NO ONE ALLOWS PETS. FIGURES
