Today we are discussing how to set an appropriate pet policy. This is an important issue because pets are becoming more and more desirable for a lot of our renters and potential renters. You may notice that a lot of the new construction buildings popping up in metro Denver are including on-site dog parks, doggie daycare facilities and places to get your dog groomed. This is becoming the norm for high-end rental property in Denver. You need to understand this popularity. You can say no to pets if you want to, but your refusal to consider them will limit the number of tenants you reach. It’s often better to have a pet policy that is inclusive and attracts owners while limiting your risk.
At Mavi Unlimited, we set strict guidelines. We always say no to aggressive breeds. Pit Bulls are illegal in a lot of places in Denver and we won’t rent to anyone with a Pit Bull. We also say no to Rottweilers, German Shepherds and any other large dominant breeds. This is especially important in a multi unit environment. It’s less of a concern while you’re renting out a single family home but you don’t want a Rottweiler in an apartment building living next door to an older lady with a Chihuahua.
Set yourself up for compensation because you have to expect some level of damage. If a person is in your property for a year or two, it’s unreasonable to think that you won’t see any remnants of that pet, even if it’s just a little cat hair on the carpets. We have a pet rent policy in place that works really well. If a tenant has a base rental rate of $2,000, we will charge an additional $50 per month in pet rent. This additional compensation offsets the possibility of damage. You also have the security deposit, which provides a source of reprieve. It makes sense to charge an additional deposit for each cat or dog.
Our advice is always to welcome pets and avoid limiting yourself. Just do it in a way that provides additional compensation because any time there’s a four-legged creature in your house, there is a risk for some sort of damage.
If you have questions or need help establishing your own pet policy for your property, please contact us at Mavi Unlimited, Denver Property Management Leaders.