Renter ready to pay more if I allow dog

[Imran Khan]

I have a renter whose insurance is going to pay for his rent. They are ready to pay 30% more rent on two conditions:

- They will sign for 7 months, then month to month(i’m okay with it)

- The have a big dog Anatolian Shepherd (which is considered aggressive)

I’m really confused about the dog situation. Would like experts to weigh in on this opportunity and suggest if it is a good deal. I’m especially concerned about the dog situation as I don’t have any experience with dogs.

Thanks for the help.

[Ben Zimmerman]

I would first check with your insurance company to see if they will even cover you if you have an aggressive breed living in the home.  

Next I would verify that his insurance is actually going to be paying.  Did his house burn down or something?

Finally I would charge as much of a deposit as is allowable.  Some states have various laws about how much money you can collect up front.  If you can collect 1.5 months rent as a deposit then that is what I would demand, or better yet 1 months rent and .5 months worth of a non refundable pet fee if your state allows for such a thing.

Otherwise if you can get guaranteed income, and above average rent during this crisis then I would say go for it.  Personally I've allowed pets as you otherwise alienate a large portion of renters and often can charge slightly above average rent.