The demand for pet-friendly rentals is on the rise. With so many prospective tenants with pets, it only makes sense for landlords to consider allowing Fluffy and Fido into their premises. As with many landlord-tenant laws, pet rules tend to vary greatly from one state to another. That being said, one thing holds true, landlords have a right to reject pets from their rental property, with the only exception being companion or service animals. In the policy, you may be able to further restrict the pets you allow in regards to, say, their size, number, and type.
Allowing pets into your rental property has many benefits. For example, you may be able to ask for a higher rent and attract a bigger pool of prospective tenants. It, however, carries several risks as well, like pet-related damages. Luckily for you, you may be able to protect yourself against any liabilities by charging tenants for pets.
The following are three ways in which you can do that:. A pet deposit is similar to a security deposit. However, while security deposits are legal in almost every state in the U. In Idaho, for example, there are no laws regarding pets. As such, this means that you may be able to charge a separate pet deposit. That said, make sure not to overcharge tenants, as that may make your unit less desirable to prospective tenants. A pet fee is a one-time, non-refundable fee that landlords retain whether or not damage occurs.
Landlords usually differ on how to go about charging their tenants. Some charge tenants based on the number of pets, while others charge tenants based on the breed and size of the pet. So be sure to check local and state laws before charging your tenants.
Unlike a pet fee or a pet deposit, pet rent is a recurring monthly charge. And just like the others, pet rent is intended to cover a landlord against any additional wear and tear on the unit.
