Why I accept pets for my rental properties

[Alan Asriants]

There's a common belief among landlords that pets are an absolute "no-go." While I prefer not to have pets in my apartments, I don't always provide a strict no. The main reason behind that is tenant quality. I mainly purchase properties in A and B class neighborhoods and all of my new rental listings are well renovated (stainless steel appliances, granite countertops, central air, recessed lighting, updated flooring, etc.). This means that I am attracting A and B class tenants to my properties. From my experience it isn't the pet that is the issue - it is the tenant. If you have a high quality tenant that is clean, organized, cares for the place; chances are, their pets will also be clean and behaved. With more millennials and younger generations moving out, these people are having pets at higher rates than generations before, and eliminating them from your rental pool could be hurting your bottom line. 

Now just because the tenant seems great on paper doesn't mean there aren't exceptions to the rule. If Im renting out an 800sq ft 2bed 1bath apartment, Im going to think twice about letting a 150lb mastiff stay at the place. That's just not enough room for such a large animal. A small/medium sized dog or a cat is ok. Also, if I have any concern or doubts about the tenant and their current living situation I will do two things: ask all of their previous landlords for a reference and I will ask them to show me their current place and how they are living. If those boxes check out, I move forward with the applicant. 

I don't charge more for rent but I do collect a $500 or 1/2 month pet deposit. 

If you're current tenant wants an animal - tour their apartment see how they are living. If all is clean and well kept, tenant pays on time, etc - why not let them have an animal. They will likely stay longer, keep paying, and be even better tenants to you. (Had this from experience - they are my favorite tenants)

Bottom line - Pets are not usually the problem - it is your tenants. Screen your tenants, then decide if you will accept pets.

Hope this helps

Alan Asriants

REALTOR

[Jevon Shaw]

Great write-up, Alan. I'm actually currently in this position. I broke down and allowed pets not too long ago and saw 6 more inquiries in just 1 weekend. I don't yet have a reason to regret it - I'm crossing my fingers in hopes that it stays that way!