Some Pet owners are finding it difficult to lease a property in Atlanta and in the Emory area because many property owners are reluctant to accept pets.
We Love Our Dogs
According to a recent survey by Apartments.com, more than 70% of renters own a pet. In fact, 65% of American households own a pet – 42% owned a cat and 54.4% owned a dog.
Some two-thirds of pet owners have experienced difficulty in finding a rental property that allowed pets.
If you are an investor with a rental property, one of the frequent questions you will hear is “do you take pets”?
There are horror stories about dogs that destroyed the woodwork or chewed the carpet, but most pets are well-behaved or crated when their owner is away. If the investment property is in a townhome or condo community, you should consider your neighbors, where a barking dog could encourage complaints.
You should also be aware that service animals or therapy animals are an exception and you cannot refuse to lease to the owner, or charge a Pet Deposit. The pet owner should provide you with appropriate paperwork, showing that they need the pet for a disability.
The decision to allow pets is a personal one, but here are a few items to consider:
- You will be collecting a Security Deposit from your tenant. How much additional Pet Deposit should you require? Experienced property managers recommend at least a non-refundable $250 per pet deposit
- What restrictions will you set on the size of the pet and the breed?
- If your property is in a community with HOA policies, you should check their restrictions before you agree to accept a pet in your investment home.
Originally published on 7/4/2016 by Emory Decatur Property Management