Pet Income: For Landlords

Hotels Are Looking For More Business

And aggressively offering rooms to pet owners with slight or no service charge. Some even offering grooming service and cooking for pets.

Landlords: Consider that according to the AVMA, a veterinary association, 36% of Americans have dogs and 30% have one cat or more. They need housing.

You Say That They Will Tear Up The Place

Not all do. Most of them are nice people. You can pet proof an unfurnished rental house to a certain extent (tile instead of carpet, shutters instead of drapes, junipers instead of fancy plants) and then you can increase a security deposit.

On a $2,000 rental, the average security deposit is about $2,200. Can you charge a pet deposit?  In this case you can charge another $1,800 as a deposit because you can get up to two months deposit in an unfurnished rental.

However, you would never call it a pet deposit; it would just be a larger security deposit. Words landlords should always avoid are last month’s rent, pet deposits, key deposits, etc. (for example key deposits could not be used for other damages).

Another Great Idea I Heard From A Student

Instead of charging a larger deposit (that is tough for some people to pay) tell the renter the normal rent for two people is $2,000. Since you have a dog, we will charge no pet deposit, but the rent would be $2,100 per month.

In most cases most of the pet deposit goes back to the tenant. After one year with this plan you have $1200 to keep & most tenants stay longer. If there is any damage from the pets you take it out of the regular deposit. Really wish that I would have discovered this idea when I started.

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