Should we allow pets in our rental?
We get asked this question a lot by our clients and wanted to share some insights to help you make your decision. Many potential tenants have pets, so allowing pets makes your property appealing to a greater larger amount of potential tenants. The more potential tenants wanting to rent your property the higher the chances of renting your home faster. Tenants with pets also may pay higher rental rates and higher security deposits.
When renting to tenants with pets there is a greater chance of damage to your home. It may be difficult to recover the full replacement cost for damaged items that were not brand new when the tenant moved in. These damaged items may be carpet, window and door screens, molding, furniture and appliances. It is unlikely that a tenant's deposit would be enough to pay all the potential damages that are more likely when a pet is involved in the apartment. If the deposit does not cover all damages you will have to go to court to try to recover additional monies from your tenant to satisfy the damage costs.
Allowing or not allowing pets is a decision that only the owner can make. Property Managers take directions from the owner of the property. We have owners that rent to pet owners and those who do not. We find that allowing renters with pets will get your property occupied faster. However the potential for damage to your apartment is also greater.
If you would like to discuss this topic further please email us at info@coastalpremierrealty.com or visit our website at www.CoastalPremierRealty.com
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