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.