When you own a rental home in Jacksonville, FL, it’s often a challenge to decide whether you’re going to allow pets or no pets in that property. Deciding whether to allow tenants to move in with animals can be complicated, and you need to measure the risks against the benefits.
Risks of Allowing Pets
Most property owners worry about two risks when it comes to pets; damage and liability. Tenants who move in with dogs and cats can leave behind damage that was created by those pets. There could be scratches on the walls and baseboards or pet odors that are hard to remove from carpets. The liability issue comes with the potential for a tenant’s dog to bite a neighbor or even the mail carrier.
Benefits in Allowing Pets
Allowing pets means you’ll find a tenant faster and reduce your vacancy time. According to statistics, more than 70 percent of households have at least one pet. So if you put a no-pet policy in place, you’re seriously shrinking the rental pool for your property. Humans actually come with higher damage costs than pets. Children can especially increase the likelihood of damage on a property, but you can’t refuse to rent to tenants who have kids because that would violate fair housing laws. So just remember that pets are often not as bad for your house as people can be.
The best way to mitigate your liability and damage potential is to have a sound pet policy in place. It can be an addendum to your lease that allows for frequent inspections of the property and a number of restrictions. You can allow pets up to a certain weight limit and you can allow only one pet or choose to let cats in your house but not dogs. Always refuse dangerous breeds that can really increase your liability and cause problems with your insurance carrier.
It’s a good idea to allow pets so you’re able to market your home to a larger pool of renters. Just make sure you have a good pet policy in place that will protect you and your home.
Contact Collins Realty Services and Property Management if you need help drafting an acceptable pet policy to go with your lease.