If they have pets but you don't allow pets, that would disqualify them.Find your 3-4 major disqualifiers and narrow the field.Once you've narrowed it, make sure everyone knows the application fee is non-refundable under any circumstances.

Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

Turnkey Dad, Pet Urine DadTurnkey Dad makes no money on the buy and likely does marginally better on the returnsPet Urine Dad buys a stinker, makes repairs, turns a quick 25% in equity and likely 12% or better on returns.Signed, Pet Urine Dad

A pet dog was found while I was there to serve pay-or-quit notice.   

Allowing pets has helped.

Immediately after getting an LOI or contract i request the following items....Exhibit BInventory of property tools, supplies and personal propertyExhibit CService contracts including trash, laundry, extermination, lawn service, etc.HVAC and/or boiler reportsExhibit D Property management license (if applicable)Certificate of occupancyExhibit E Certificate of insuranceInsurance claims history for the past 2 yearsExhibit F Commission agreements with the leasing staffCurrent property management contractAny other vendor contractsOther Requested Due Diligence DocumentsLast 2 years of financial operating statementsA year-to-date operating statementLast 6 months of bank statementsUtility deposit registerUtility bills for the last 2 years.Property tax bills for the last 2 yearsIRS Tax returns and addendums for the last 2 years (as relatedto the property only) Articles of IncorporationGood Standing Letter from the Department of RevenueAny licenses in the name of Sathyam EnterprisesRent roll for the property for the last 2 yearsSecurity deposit registerPayroll recordsEach different lease typeWritten property policies such as pets and parkingInformation on all rent concessionsList of any uncompleted maintenance requestsMaintenance and capital improvement history for past 3 yearsLitigation history on the property for the past 5 yearsAny operation manuals for the propertyTitle policySite planArchitectural plansEnvironmental ReportsAny mold inspection reportsAny lead-based paint inspection reportsAny fire system reports or citations

I have a Duplex renting in South Lake Tahoe and was thinking of allowing pets because I'm having a hard time renting so far. 

That's not too shabby for a $1500 mortgage payment, but we need a "real" place to live (family of 5 plus 2 pets), and as I mentioned it's as much of a restoration project as an investment.

Maybe raise rent a bit, if the current tenant moves out add value by charging a pet registration fee and monthly pet rent, a few bucks extra for washer and dryer hook up.

Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.