Originally posted by @Shane Pearlman:
We allow pets in one of our markets as it is a competitive differentiator. We have 3br units in a region with very little turnover and an anti-pet rental marketplace. By allowing pets we get our pick of the best tenants + increase returns and longevity.
We charge $100/month extra + 1k increase in deposit. We have 6 doors which have pets in them right now (which we have held between 2-7 years) and so far have had no noticeable pet damage. I'm sure it is only a matter of time. Toddlers though are horrible on our homes! If I could legally allow pets and discriminate on young kids, I would seriously consider it (or at least surcharge them the way I do with pets). I hope it doesn't come off harsh, it is simply a fact of my experience.
I laughed out loud when I read your toddler comment. Even though I do not own rental properties, I am in charge of rental housing for a golf club. Toddlers and young children will destroy facilities at an astronomical rate. As far as the pet policy, I would allow them on a case by case basis with your restrictions and policies clearly stated.
