If it’s really bad pet odor you gotta pull the carpet and toss the urine soaked padding out

I don’t mind keeping the tenants but I know the lease agreement may be to relaxed in areas such as smoking in home which is a No No for me and my properties so certain things I want to change but I have no problems at this time with keeping the current tenants other then smoking and certain things like pet requirements.

I have a checklist I walk down each visit to look at plumbing, locks, smoke detectors, windows, pests/mold, overall condition, pets, etc.Scheduling them is the biggest pain.  

I am pushing 2br 1bath units to $750.00 for about 900sf, plus $25.00 pet rent, per pet, two pets max.Those are on 8 apartment complexes total. 

I don't think you could find many people here who would/could pay a huge security deposit unless it was a special situation like a large # of pets owned.

In other words is the seller or management company "cooking the books".Example.1.Taking money from another account and making the tenants look like they are paying on time and in full to show 100% occupancy.2.Giving rent credits like first 1/2 month off apartment rent,or full month rent off,or no security deposit,pet deposit,etc. to inflate occupancy.3.Retail leased properties where market rent was 18sq ft but the landlord is selling because lease is coming up for renewal and if tenant doesn't get 12sq ft they will upgrade to the new grocery anchored shopping center that used to be 22 sq ft and is now 18. 4.Watch out for pre-foreclosure volume and foreclosure volume for your area.What I mean is when a buyer purchases a distressed property for below market value they can then rent at a lower basis and still make the same or better profit than you.I have seen this first hand.I have seen rents for apartments 2 bed be 650 a month.Then a few foreclosures happen that buyers purchase cheap for cash.They come on the market and rent for 550 a month.The buyers rent low to get the best tenants to choose from and build occupancy quick.Then over time they will up the rents.What this does is put tremendous pressure on landlords already hurting that have high debt service loans.Then those get foreclosed on and a domino effect happens until the market settles.So my main point is don't count on current rent or future rent.I look at where the market is going and correcting to and buy really low so you have room in case the worst happens.This will exclude many properties.If you make great income form other than real estate and just want a tax shelter with pay down etc. then you might look at it differently.

Thanks for your replies, I will try to answer them all.Listed for almost 30 daysRent: 2500Comps: 2800Loft/1bdrmDeposit: 1 months rent (like other units) with a pet deposit if applicable3 inquiries/showings so far- none interested Unit- Hardwood floors, dishwasher, wine chiller, all new stainless steel appliances, washer/dryer in unit, private balconybldg-24 hour doorman,fitness center, common garden patio, garage, storagebtw (this is in downtown Brooklyn)I hope to continue to gain some insightful information from this site.

This includes a large dishwasher leak when one of the valves broke and through a pet.

Pets in the house?

Lease doesn't specify anything about pets...