First property under contract, pets?

[Josh Shrader]

Just want to say thanks to this community. I've been lurking for a while, reading, and trying to understand what it takes to make moves in this space. I'm currently under contract on my first rental property. 2 bed 1.5 bath townhome in a pretty good location near local medical center. Low end market rent gives me ~10% CoC ROI and what I'm going to list for makes that around 14%.

The only question I have relates to pets. I've been led to believe that allowing pets commands higher rent. Maybe even $100/mo in this market. Is it worth it, in your experience

Thanks for replies and all the advice I borrowed over last year and half. 

[Corby Goade]

In my market 75% of renters have dogs, so we, in general, allow dogs so that we don't lose 75% of the renters out there. I'd do some research in your area and see what the stats are like. 

Also- check with your insurance company, there will be breeds that they will not cover, so do not allow those. 

Also good to bone up on the difference between a pet and a service animal. 

Congrats on the purchase!