Investment Property How To: Pet Policy by Roseville Managementactionproperties
People tend to think of their animals not as pets, but as family members. If your unit has an anti-pet policy, prospective renters with pets will most likely pass over your rental. After all, why would they go for the rental that would make them give up their best friend? They wouldn’t. Instead, they’ll continue to search for rental units that will accept pets.
Although California law gives landlords the choice to set a “no pets” policy, it’s generally your best bet to have a “pets negotiable” status. Landlords who maintain a “no pets” policy not only limit their pool of available tenants, but also tends to extend the vacancy period on their property as well.
Typically, what we’ve found here at Action Properties, Roseville, CA Property Management Company is that having a “pet negotiable” status is an open door for applicants to be a little more honest about their pets.
However, when you say “no pets,” a lot of the times the applicant will mark that they don’t own any pets. They could be thinking to themselves, “Since my cat is an outside cat, it’s not really a pet. I’m not going to mention it.”
Additionally, you’ll tend to find that people with a “no pets” policy typically end up with some type of pet in their home. Now instead of having an additional deposit down for that pet to begin with, you’re forced to deal with a possible eviction due the broken the terms of their lease agreement. This is a scenario which could have easily been avoided and is now taking your time and the possibility of loss rent.
However, keep in mind, when you say “pets negotiable,” it doesn’t mean you have to accept a pet; it means you will consider it. For instance, if a person puts down they have three cats, two dogs and a hamster, you’re making your decision based upon their credit, qualifications and employment; not just pets.
By proceeding this way, it opens up the door for a person with pristine credit and employment versus limiting your possible pool because of a “no pets” policy.
Lastly, if you do accept a pet in your unit, it is strongly recommended you not call the deposit a “pet deposit,” but rather an “additional security deposit.” By calling it a “pet deposit,” you must use it for pet damage only. However, if you call it an “additional security deposit,” you can use that additional deposit on damages that might have incurred during tenancy.
In short, having a “pets negotiable” status allows all renters to apply rather than a select few, which guarantees a shorter vacancy period on your rental. By being open minded to pets, you allow renters to remain with their best friends and keep your rental filled at the same time.