Home › Forums › Financial Markets/Economics › Pet Policy
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August 17, 2014 at 4:06 PM #21218August 17, 2014 at 6:14 PM #777391spdrunParticipant
A matter of balancing level of pain vs higher rent. You can charge higher rent if you allow pets, but it comes with risks of damage to the rental property (and lawsuits if tenant’s dog attacks someone). You’re chosen your level of risk — nothing wrong with that at all.
August 17, 2014 at 6:16 PM #777392FlyerInHiGuestI love dogs and I’ve had them myself. But I would not allow them in my rentals. Made a mistake once to allow a small dogs. Ended up with urine stains on carpet.
Basically, as a landlord you want the least troublesome, cleanest tenants that you can get. Pets are not clean. But keep in mind that your pool of tenants is much smaller if you don’t allow pets.
August 17, 2014 at 6:20 PM #777393FlyerInHiGuestNot sure you can charge more for pets. You usually charge a cleaning fee or pet deposit
August 17, 2014 at 6:23 PM #777394spdrunParticipantMore flexibility = larger tenant pool = more demand. Therefore, since you have something unusual, you can list the apartment at a higher price and still get interested parties.
August 17, 2014 at 6:32 PM #777395NotCrankyParticipantIn my detached houses every tenant I ever had has had a pet and I don’t have any regrets. Never have owned or managed an apartment. When I rented rooms in my house a guy had a parrot. That became a problem when he was using a space heater 1500W 24/7 for the bird, but when the electric bill came he paid for it.
I don’t like screening people with dogs because everyone thinks their dogs are great, but am not against dogs necessarily. Zero pit bulls, rotweilers etc. and usually not more than one dog . I do screen the dogs before a person even gets an application.
August 17, 2014 at 6:50 PM #777396FlyerInHiGuest[quote=spdrun]More flexibility = larger tenant pool = more demand. Therefore, since you have something unusual, you can list the apartment at a higher price and still get interested parties.[/quote]
More interested parties doesn’t necessarily mean you can charge more. You may waste time showing to more people. You just need 1 good applicant who will rent your place.
I tested that. When I listed pets ok, I got many more answers.August 17, 2014 at 7:07 PM #777397EconProfParticipantI have had many rentals for many years, and I used to accept pets. But after a while I realized it was just not worth it. Getting the units handed back to me with pet damage just got to be too much. And every prospective tenant claimed their dog was trained, not a barker, and they would of course take good care of the unit. I may be a slow learner, but eventually the evidence just became overwhelming.
As to the common assumption that cutting your prospective rental pool in half (approximately) by not allowing pets hurts one’s rent levels and bottom line–the opposite may be true. Some tenants actually want a pet-free environment. They may be tired of barking dogs and poop on the lawns and be seeking out my kind of apartment complex. Accordingly, my Craigslist ad actually says “Sorry, no pets allowed in these clean and quiet buildings.” Don’t know if I gain more prospects than I lose from such a policy.August 17, 2014 at 8:15 PM #777399NotCrankyParticipantIf I had an apartment or condo I would probably not allow dogs.
August 17, 2014 at 9:27 PM #777400RealityParticipant[quote=EconProf]
As to the common assumption that cutting your prospective rental pool in half (approximately) by not allowing pets hurts one’s rent levels and bottom line–the opposite may be true. Some tenants actually want a pet-free environment. They may be tired of barking dogs and poop on the lawns and be seeking out my kind of apartment complex. Accordingly, my Craigslist ad actually says “Sorry, no pets allowed in these clean and quiet buildings.” Don’t know if I gain more prospects than I lose from such a policy.[/quote]Barking dogs are one of many possible problems in a complex. In my experience, humans have been a bigger problem with upstairs “neighbors” stomping on the floor, constantly moving furniture, and dropping what sounded like bowling balls.
Even when I moved into a top floor unit the tenant downstairs liked to slam the heavy front door. My place would shake.
Is your building well enough built to mitigate the sound from assholes living nearby?
August 17, 2014 at 9:47 PM #777401moneymakerParticipantSeems to me that more and more people have pets these days. Maybe because so many people wait too long to have kids, then can’t. There’s hardly a place downtown that doesn’t allow pets it seems. There are some places downtown where there are so many dogs getting walked that the smell of urine can be down right overwhelming outside on the sidewalks.
August 18, 2014 at 2:59 AM #777402CoronitaParticipant[quote]
“Sorry, no pets allowed.” So says my Craigslist ad.
[/quote]Take out the “sorry”, and I would concur…
Maybe you can get more rent.. But I imagine a bigger cleanup after they move out….
Personally, I’m so allergic to cats, that I wouldn’t want to deal with a tenant that has one…
Depends on which set of demographics I guess one wants to deal with.. It’s pretty polarized among pet lovers and pet haters..
August 18, 2014 at 6:22 AM #777404scaredyclassicParticipantno pets allowed.
and if you acquire any pet or knowingly allow any animal intot he residence during the tenancy, landlord to receive 5,000 in liquidated damages.
I HATE DOGS
August 18, 2014 at 12:55 PM #777423EconProfParticipantI must say I did not expect this subject to elicit such anti-dog sentiment. FWIW, I like dogs. They love you unconditionally, can be fun to play with, and are companions that don’t talk back to you. I’d like to own one for about twenty minutes a day.
But if you do an honest cost/benefit analysis on the full implications of owning one, it doesn’t make sense for most people.August 18, 2014 at 1:07 PM #777424spdrunParticipantand if you acquire any pet or knowingly allow any animal intot he residence during the tenancy, landlord to receive 5,000 in liquidated damages.
Good luck enforcing that in court if no actual damage occurred.
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