Pets can be a huge source of comfort for people who live with them, which means they can make your tenants happy and content. This is why many landlords are turning their rental properties into pets-friendly apartments. However, there are some important considerations before allowing pets in your rental property.
Here are 6 things you need to consider before renting out your apartment or house to a pet-lover:
We all know the importance of screening potential tenants before they move in. It is very important to do a thorough background check on everyone who wants to rent from you as it is for your own personal safety. This way, you will know if the pet of the potential tenant was a problem in their prior accommodations.
If possible, have a buddy or friend run a background check on the person first. You may be surprised at the information they will turn up. Make sure they are honest, hard-working individuals who will pay their rent promptly and treat the property with as much care as you do.
As a landlord, you should verify everything the tenant tells you. Believe nothing the tenant says until you verify it for yourself.
Therefore, it is important to request a copy of each tenant's references (previous landlords and workplaces etc.) and ask that they be e-mailed to you so you can examine them before making your decision. Former landlords can easily tell you if the potential tenant gave any problem with their pets in previous places of rent.
When you let your tenants have a pet, they will be more likely to take better care of your rental property. However, you should make sure they are responsible enough for the animal's care before you allow them to keep it on the property.
Ask for a refundable pet deposit from the tenant. Make sure you clearly communicate this policy to your tenants in your lease. Make sure you have a clear understanding with each of your tenants about what their responsibilities are for the care of the pet and about any damage caused by the pet.
One of the biggest questions people have before allowing pets in their rental properties is whether or not their insurance will cover damage caused by them. Many landlords are surprised to learn their insurance policies do, in fact, cover this type of damage.
This is especially true if your property is located in an area that is pet friendly. In some cases, your insurance provider may require you to put up a bond or deposit in order to ensure the tenants are responsible for any damages. In either case, consult them before taking any action on allowing a tenant with pets.
Make sure you have a clear and concise "Pet Policy" in place. This is usually contained in your tenancy agreement or can be a separate document. In fact, creating a proper tenancy agreement is one of the vital steps in any landlord's guide to renting with pets.
Make sure it is very clear and easy for any prospective tenant to understand. If they have any questions, they should feel free to ask you or one of your agents.
Inspect the property before you list It for rent and make sure it is pet-friendly. This is very important. Make sure there are no obvious defects that could cause your furry friend discomfort or harm. This will help you stay safe in case the tenant tries to claim legal damage against you.
Many landlords allow pets in their rental properties, but there are many things you must know before allowing animals in your rental property. The simple guide above gives you most of the information you need to make an informed decision about whether or not to allow pets on your property.