Should You Allow Pets in Your Rental?
In our previous blog, we talked about what needs to be covered in a lease agreement. One element that needs to be thoroughly detailed is your pet policy. Do you want to allow pets at all? If so, will you charge any additional fees or pet rent? What kind of pets will be allowed, and which will not? There are quite a few considerations that you as a landlord will have to think about regarding allowing pets in your rental property. The Evans, Georgia property management team at Sherman and Hemstreet has plenty of experience with handling tenant relationships and strengthening lease agreements. This includes narrowing down options when it comes to creating a pet policy! Let’s talk about the risks, rewards, and other details you need to know when it comes to allowing pets in your rental.
First Things to Note
Before we discuss the benefits and risks, there are a few things that you, as a landlord, need to know. First and foremost, always check with your local and state laws when building a rental agreement. This goes for any part of your lease. On the topic of pets, though, you need to be mindful of those with service, assistant, or emotional support animals. These animals are not considered “pets,” and it is best to consult a local attorney to make sure your policies are fair and legal.
Some other important notes to consider are pet screening, taking note of restricted pets, and narrowing down your pet limitations. Just as you screen tenants before you select them to live on your property, you can screen their pets as well! This allows you to see how well the pet behaves and see how the tenant handles their pet. You also need to verify with your insurance and homeowners association (HOA) if there are any restrictions on certain breeds of dogs. Some insurance companies do not allow coverage to those with pit bulls, rottweilers, or other large dogs.
Lastly, be clear and direct on what types of pets you will allow and how many you will allow on the property. Zillow states that 31% of renters own dogs, 22% own cats, and 46% own other pets such as fish, reptiles, birds, etc. Be specific, whether it’s by number, breed, size, or type. And again, be legal!
Why Allowing Pets Can Be Of Benefit
Now that we have covered some ground rules, it’s time to talk about why allowing pets can be a good thing for you. Think back to those percentages we just mentioned above. Allowing pets will bring in a larger pool of applicants for you! If someone has pets already, they are going to exhaust all pet-friendly options before considering somewhere where their pets aren’t welcome. Or… they will just bring their pets anyways behind your back.
Additionally, once pet owners find a good rental, they are less likely to move around versus those without pets. This, along with the fact that you can charge pet rent or a pet deposit, promises you a more steady income.
Risks of Allowing Pets in Your Rental
Next, let’s face some harsh truths about letting pets in your rentals. We previously discussed that some insurance companies are wary of specific dog breeds. Because of this, your liability exposure will likely be higher than it would if you did not allow pets in your rental. The increased liability is an extra layer of protection for you in the case that your tenant’s dog bites someone.
The next thing may seem obvious, but pets can be loud. Dogs barking can bring in extra noise complaints, giving you a heavier work load and causing surrounding tenants to be unhappy if it becomes routine. This is compatible through verbal warnings and, in extreme cases, fines. Lastly, and similarly, you have to be ready to face potential pet damage. Pets can scratch, rip, spray, and more. Especially if you have carpet!
Protect Your Augusta Rental Property With Sherman & Hemstreet
Hopefully, you can put all of this information together to decide what is best for you and your rental property here in the Augusta or Evans, Georgia area. If you still have concerns, pet proof your property as much as possible. Fence in yards, install high-quality, durable flooring, and create a strong pet policy that will protect you if and when the time comes.
Need assistance with your single-family rentals in Augusta? Our Augusta and Evans property managers are the specialist when it comes to all things real estate and property management related. Don’t sweat and don’t stress, we are eager to help you figure out all of the legalities and formalities that will best suit you and your investments!