Pet Friendly Rentals - Park City Property Management
The question of accepting pets in a rental often comes up in Park City property management. When talking about pets we are most commonly referring to dogs or cats. It's pretty infrequent that a goldfish would cause a substantial noise disturbance with neighbors and I have yet to have a tenant ask about making accomodations for their horse. In almost all scenarios a small animal is of little consequence and many HOAs and communities have specific rules regarding larger animals. I would like to take a look at some of the pros, cons, and considerations when deciding to rent a property as pet friendly.
The Pros
It really comes down to two basic points; money and marketability. In Park City property management there are two standard ways in which a pet friendly rental can generate more income, pet rent and non-refundable pet deposits. Pet rent may sound a little funny, as if we are asking Fido to get a job and pay his fair share. What the increased cost is based in is the idea of greater wear and tear on a property. If you would like a little more information on wear and tear, please check out my blog post Damage Or Wear And Tear? - Property Management Park City Info. Pets in general will add to the wear and tear a property sees over the course of a lease and should be accounted for with increased rent. In my experience $25/month is an appropriate amount for Park City property management however you should use your best judgement. Also you should consider an additional deposit for a pet and designate a portion of this deposit as non-refundable. The idea again is to cover for the added normal wear and tear a property sees.
The Cons
Not all pets, and definitely pet owners, are created equal. Some pets are more well behaved and some pet owners are more responsible. One animal that answers the call of nature wherever and whenever they want can very easily ruin the carpet of a property beyond repair. Make sure to ask potential tenants if their pet is house broken, how long they have had the pet, and if someone is home during the day to supervise the animal. Checking rental history can be an invaluable tool in determining whether the pet is fit for occupying your property. A deposit significant enough for a tenant to want it back is also an appropraite deterrent. Be reasonable but not excessive. If you find yourself asking too much for a deposit then perhaps the pet is not right for your property or perhaps renting to pets in general is not right for you. Even meeting the pet can help clue a property owner in to the animal's demeanor. While not fool proof these steps will give you the best change of making the right decision.
Considerations
Is your rental property part of a home owners association? If so there are probably specific rules regarding petss. Some HOAs have restrictions on size and breed of dog, almost all will have restrictions on the number of pets and some will not allow pets at all. I have unfortunately had a family approach me who, after moving into a property their landlord said was pet friendly, received notice from the property management company that they were in violation of the community rules and could not have a dog. If there are community or local ordinances that apply to pets make sure your tenant is notified of the rules. If the community your rental property is a part of does not allow pets then don't market the property differently. Another thing to consider is services animals. An animal that is legally registered as a service animal is effectively not considered a pet. You cannot charge pet rent, take a pet deposit, and if community rules prohibit pets they do not apply to service animals.
If you are interested in learning more about property management Park City Utah, download our free white page "5 Questions Every Landlord Should Ask Themselves".
