Rental Properties, Pet Policies and You

Posted by Chris Clothier on Tue, May 19, 2015

There are a great many animal lovers in the world, but most rental properties aren’t known for their pet-friendly policies. Some tenants even view rental properties that allow pets with some distaste because of high pet deposits. 

What stance should real estate investors take when it comes to pet policies? Whether or not you intend to allow pets, you should have a pet policy, period. Even tenants who don’t have pets need to sign one and know what your rules are regarding animals on the property or in the building. The property manager can take care of any day-to-day questions or issues regarding the policy.

If you choose to allow pets in your rental properties, have firm boundaries in place. Any and all pets must be approved and photographed by the landlord. How do you know if a pet should be approved? Ask the right questions.

Read More

Topics: rental properties, pet policies

5 Strategies for a Pet-Friendly Investment Property

Posted by Chris Clothier on Mon, Apr 6, 2015

There are plenty of pet people on planet earth. From cats and cockatoos to puppies and chinchillas, people love pets. For real estate investors, however, tenants who bring Fido in tow can post some unique challenges — and costs — for your investments. Many property managers and real estate investors have pet policies that outright say “no”. After all, they shed, the damage furniture and floors, dig up prized petunias and can be quite the liability.

But should we be so quick to rule out man’s best friends? Perhaps not. Pets aren’t just pets for people — they’re valued and loved members of the family. There are tons of tenants out there who immediately rule out any property that doesn’t allow pets. When you allow pets, you open yourself up to a new demographic of tenants — pet owners — that aren’t always as bad as horror stories would have you believe.

If you’re considering making allowances for pets on your investment property (beyond service animals, which you have to accommodate by law), check out these tips.

Read More

Topics: pet policies