Landlords need a consistent and reliable rental pet policy, and when you’re thinking about this, there are a couple things to consider. First, sometimes you cannot choose whether or not you have animals on your property. Service animals sometimes come with tenants who have disabilities. These animals are not legally considered pets. You cannot charge a pet deposit or pet rent. If you have asked yourself before “Should I Allow Pets in a Rental Property?” keep reading this post to find some tips for a pet-friendly property and its policies.
Rental Pet Policy and Tenant Pool
Statistically, 70 percent of renters looking for homes have a pet. That’s a huge range. These tenants have all sorts of pets; small pets, large pets, and different types of animals. If you consider not having pets at all, you’re going to have a much smaller pool of people to rent to. Therefore, you might want to consider allowing small pets. Or, you can limit the number of pets you’ll allow and restrict the types of pets you’ll allow. At Keyrenter McAllen, we have breed restrictions in place. Allowing pets help you to rent your property faster.
Protecting Your Property from Pet Damage
When you allow pets, you can have either deposits or pet rent to protect yourself. Increasing the rent monthly is beneficial to property owners. We also offer animal protection. If the owner is willing to waive the pet deposit and pet rent, we will provide an extra $1,000 of protection. That means if a pet causes damage that goes beyond the regular security deposit paid by the tenant, Keyrenter will cover any additional costs up to $1,000. We’ll make any necessary repairs.
This works for owners because they get greater protection while allowing pets in the home. It works for tenants because they don’t have to pay a pet deposit that can be between $200 and $500. It helps us, because we do charge a pet deposit from the tenants, and we keep that money as insurance. So, the owner is better protected and the tenant is spending less. We create a win/win scenario for everyone. It’s an insurance program or both tenants and owners.
You can allow pets on a case by case basis, depending on your property. In most cases, it’s better to at least consider pets because there are more tenants to choose from when you’re renting out your property.
If you have any questions about pets or our pet program, please don’t hesitate to contact us at Keyrenter McAllen.