Re: Future pets - Landlord Forum thread 323030

Re: Future pets by Garry (Iowa) on August 18, 2014 @15:41

Allowing pets or not, is all about risks vs rewards. LLs take NO risks of pet damage if the don't allow ANY pets, period! If they want to take SOME risk, then the rewards should be there to compensate for that risk. If they can get more rent, or keep more of their units filled by allowing pets, while still having a say on some restrictions about the pets, then, as a LL, its up to you. Its no different than gambling or playing the stock market. The higher the risk, the higher the reward should be. Surveys have shown that 50% of all households all over the country own a pet. I am not willing to automatically say NO to that many people, just because they have a pet. There are a couple of 200 unit apartment complexes in my area who advertise they will take pets, with restrictions and higher rents. Guess what? They take on a higher risk, but they get a higher rent, and have a lot lower vacancy rate than the other complexes in town. So, bottom line is, there is no right, wrong, or correct answer about pets. Its simply about the risk.

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Re: Future pets by jannie (IL) on August 18, 2014 @17:17	[ Reply ]

I understand the risk and though I would have preferred not to have taken the pets - in my situation it has worked out ok so far - They keep the property up and pay on time so I'm happy. I increased the rent and the security deposit. Having been, at one time, a renter with a pet trying to find a place to rent I realize it's hard to find a place and when I did - I made sure I left itas good of condition as I found it or better. So far I have been lucky and my pet owners have done the same... I realize that's not always the case.