Pets allowed vs. No pets policy

[Adrienne G.]

Hi everyone,

I'm wondering what you landlords are deciding when it comes to the pets vs. no pets policy, and why you decided on it? I'm looking into buying a long term multifamily house with 2-3 units as my first investment. The stock of properties here are 1880s to 1930s.

If you allow pets, are you collecting additional pet fees monthly? If so, how much would be reasonable?

There's also an option for pet deposit fees.

Have you seen property damage with pets?

Thanks!!

[Joe Splitrock]

We do allow pets, but only smaller dogs. We have just had too much trouble with cats. By trouble I mean pee smell so bad I almost threw up when I walked in the door. I have had dog pee too, but cats are harder to get rid of the smell.

We charge a $300 pet fee and $35 per month pet rent for each dog.

[Joe Splitrock]

Here is what the new carpet looked like on the back after 6 months of a cat peeing on it. Carpet cleaning doesn't do a darn thing when the pee soaks through the pad and into the subfloor. It can cost thousands to repair pet damage, so screen your tenants well. This tenant ended up paying me over $3000 in damages.

[Adrienne G.]

@Joe Splitrock yikes, I had no idea cats could be worse than dogs.. and I have both!

[Sharlene Mulchandani]

@Adrienne G. If you decide to permit pets into your rental properties, an airtight pet policy is a must. I suggest charging a one time, non-refundable pet fee - most landlords usually charge anywhere between $50-$500 for pet fees, which you can use for any damages. You can charge this fee, depending on the amount of risk presented by the pet. Additionally, you can charge a small monthly amount for pet rent, where you can charge anywhere from $10-$80 each month.
Pet fees (whether one time or monthly rent) are not legal in every state, so I suggest you refer to your state laws as well.

[Mike Jordan]

There's always pros and cons to renting to tenants with pets. These are a few that comes to mind: 

Damage to the apartment

Pets, especially those that haven’t been trained properly, can scratch doors, chew up furniture, and have “accidents” on carpets and hardwood floors. These are just some of the exploits pets can have, especially if they’re unattended. This means more clean up and repairs when the tenant moves out.

Liability

The liability of pet ownership doesn't just fall on the tenant, it falls on the landlord as well. There may be a risk of the animal causing physical harm to neighbors and other tenants. This is one reason that most landlords impose a size restriction on pets. Smaller breeds can bite, but one coming from a chihuahua poses a much lower risk of injury than a rottweiler's.

Future tenants can have allergies to animals, which may imply extensive cleaning or even renovations to make it suitable for them.

Regarding your question about fees;

Typically, a landlord who allows pets will charge a higher rent to a pet owner, than to a no-pet renter. This gives you the opportunity, as the landlord, to charge extra for pets in the property. You might argue that increasing the rent will likely deter tenants, but pet-friendly rental properties are sometimes hard to find, as one survey claims, wherein 60% of prospective pet owning tenants struggle to find a pet-friendly rental. Tenants with pets expect they may pay more rent to have their pets. 

Pet rents or pet deposits are fees that you can charge your tenants. They can be a measly $15-$20 fee per month that can earn you up to an extra $180-$240 annually.

Hope this helps!

[Patrick Doyle]

Renters Insurance that covers the pet breed is required. I rent to older retired people and a lot of times they have a pet to keep them company. I do collect a pet fee for a deep clean of the unit. I have tiled floors except the bedrooms.

[Edgar Martinez]

Originally posted by @Adrienne G.:

Hi everyone,

I'm wondering what you landlords are deciding when it comes to the pets vs. no pets policy, and why you decided on it? I'm looking into buying a long term multifamily house with 2-3 units as my first investment. The stock of properties here are 1880s to 1930s.

If you allow pets, are you collecting additional pet fees monthly? If so, how much would be reasonable?

There's also an option for pet deposit fees.

Have you seen property damage with pets?

Thanks!!

DISCLAIMER: I'm not an attorney and I'm not giving you legal advice.

So I'm going through this now. I see you live in NY as well and if you're planning on investing in NY there's a lot of rules to consider.  From my understanding, according to new laws passed in 2019, landlords aren't allowed to collect more than 1 month’s security deposit. So that kind of kills the "pet deposit". Additional rent may also be tricky. I did see something like having a separate lease with the pet. Not exactly sure how that works though. 

Just thought I'd share what I've found so far.