Whether its Insurance or damage or just general dislike.There is a lot more to consider both positive and negative but in my opinion if you do allow...and I plan to I would force a new lease agreement and add in at least a 250.00 non-refundable pet fee and at least 25.00 a month pet rent.

Just because they have been there longer doesnt make it right for them to continue to jump out of their beds with such force and noise.

I understand there might be hesitation with an immediate increase because this would force out the current tenant or might lead to confrontation, but it's your business to manage.

You can force a deal to happen but why bother if it won't be a good one when it's done. 

I'm retired Air Force, but started out in the Army. 

I think that is what we are triggering and then to force that thought upon our brand and marketing. 

Can you identify forced appreciation, understand the market in different price ranges, are you up on types of deeds, how the two of you can hold title.

If they default, you may be forced to return them.

If you hold/operate properties out of state, you will be forced into employees, but in-state, needs to consider Illinois labor laws. 

You file form 3115 and take the full $40k in the current year, producing a large current year loss.The problem with not taking depreciation is that the IRS is going to assume you've taken depreciation anyway and force you to pay recapture taxes.