SHOULD I ALLOW PETS IN MY RENTAL PROPERTY?
We get this question from most new owners and it’s a good one. In this context, “pets” most typically refers to cats and dogs, and atypical scenarios should be considered on a case by case basis. We will cover emotional support and service animals at a later date.
Choosing to allow pets in your rental home introduces an inherent risk for damage and the costs associated with increased wear and tear. But in a city like Denver, which ranked third on Rover’s Top 50 list of dog-friendly cities, prohibiting pets may result in increased vacancy times as you wait for a qualified tenant who meets that criteria.
In the last ten years, our pet policy has evolved based on a large amount of both owner and resident feedback. We’ve found that animals tend to cause less damage overall than most owners fear they might, and that the advantage of advertising a property as pet-friendly cannot be understated. The specific policy is always left up to the owner to assign as different factors may make your home more or less desirable for animal-loving prospects.
Factors that may influence your decision include:
- The location of your property
- The condition of your property (recent repairs/flooring replacements, etc.)
- Yard/exterior space available
- Market activity at the time of vacancy
- The size and layout of your property
We have found several options for pet rent/deposit combinations for stress-free solutions to this predicament. If you have questions, our expert property managers are able to readily assess these factors and more in making a recommendation to you regarding your rental’s pet policy. Set a time to speak with someone here: https://calendly.com/jason-modproperties/meet?back=1&month=2021-02
If you do decide to welcome furry friends into your rental, make sure to request pet references from previous landlords and most importantly, to formalize expectations through a pet addendum. You will want to make sure that your residents are responsible for damages, but also for removing pet waste, controlling their pets with neighbors, and staying up to date on vaccinations, etc.
We’ve included a link to the free download of our sample pet addendum here