Pets or No Pets
The question of pets is always of serious concern to our owners. Many have seen the destruction pets can do, and the initial reaction is to just say no. However, it is not always that easy of a decision as economics and our customer based weigh heavily on our industry. Economics since we have to have rent in order to pay the bills and a solid 80% of our customer base has or wants to own a pet. Not to worry, if you decide (or have decided) to allow pets EPM has you covered.
- First, our tenants are the best in town. Seriously, we almost never have tenant related issues and when we do we deal with the situation promptly.
- Second, we charge additional deposits to cover any potential damage. Deposits start at $300 and at your discretion can go straight up. These deposits have been instrumental in making sure any damage can be covered.
- Third, we charge additional rent. There is no doubt that is most cases pets add wear and tear to the property. To compensate the owner in most cases we charge pet rent of $20 per pet per month.
- Fourth, we screen for the appropriate pet for the property and the owners comfort level. In order of damage cats are number #1, then large dogs, and last dogs under 25#'s. If you are uncomfortable with accepting pets then maybe go with dogs only under 25#'s. And always there are no dangerous breeds allowed.
- Next, we have to consider the proliferation of assistance animals that are making there way into the market. These are not pets but are best looked at as a "wheel chair". The industry is fraught with pit falls and abuses in this area. Best leave this to the experts, and please quit voting for politician that pass this legislation. This issue (and others) has driven may landlords out of the industry causing the housing shortage we have now.
- Lastly, we have to consider that a few tenants will just bring a pet onto the property anyway. This is a pet without being screened by EPM and without any additional deposits.
Overall, rental properties that accept pets enjoys shorter vacancies, longer tenancies, less turn over, and higher returns. We recommend accepting pets for most, but not all properties. Let us know if you have any questions about your pet policy.
Many happy returns,
James (Ed) Waggoner
Empire Property Management LLC
