Pet-friendly rentals have become a lot more popular, and that’s simply a market response to tenant demand. A large majority of potential renters have at least a dog or a cat. Many people have multiple pets. During the worst of the pandemic, pet ownership increased as people were home and feeling isolated.
The majority of renters with pets has to be an important consideration for you. Allowing pets you’re your Los Angeles County rental home will provide several benefits, which we will talk about.
But, there’s always risk. Animals are unpredictable, even those we believe to be well-behaved and easy. When you’re allowing pets, you want to make sure you’re not sacrificing too much of your own peace of mind in order to accommodate your renters.
We have a lot of experience with pet-friendly rentals as Los Angeles property managers. We’ve put together some tips and strategies to ensure there’s harmony between you and your tenants, ensuring a positive and pleasant tenancy with a strong likelihood of a lease renewal.
Remember that your lease agreement is where it all starts. Implement a strong pet policy and include that in your pet-friendly lease.
Avoiding Vacancy and Turnover: Pet-Friendly Benefits
We mentioned the statistics. You know that the majority of renters have at least one pet. So, it’s not a stretch to understand how allowing pets into your Los Angeles County rental property will result in a faster rental process. Not allowing pets in your rental property could potentially lead to longer vacancies. It may take you extra time to find a tenant who isn’t looking to move in with a pet.
We cannot think of any good reason to limit your tenant pool. Yes, you are likely protective of your floors and worried about fleas and the liability that can come with a tenant’s dog biting a neighbor. Those risks can be managed. It’s a lot more difficult to manage the risk of vacancy.
Include language in your marketing that signals you are willing to consider pets. Then, you’ll have everyone looking at your listing and scheduling showings. You’ll have the opportunity to talk with prospective tenants about their pets and decide if they are a risk you can manage.
Vacancy will almost always cost you more than cleaning up after a pet. Especially when you collect pet fees, deposits, or rent.
Pets invite shorter vacancy periods. There’s also the matter of better retention.
Residents who are pet owners don’t move quite as frequently as tenants who don’t have pets. Any time they move into a new property, they know they can expect another pet fee or pet deposit. If they just paid one to move into your place this year, they’re less inclined to pay another one in a new home next year.
When your tenants are pet owners and they’re having a good rental experience, those residents are likely to stay in place. This reduces your turnover costs. It eliminates the stress of having to quickly find a new tenant.
Pet Fees and Pet Rent: Los Angeles County Rental Property Earnings
Imagine earning more just because there’s a low-maintenance cat living in your rental property.
This is how it happens. Your Los Angeles investment property has a higher rental value when your tenant has a pet.
You can charge pet fees and pet rent when you have a tenant moving in with their animals. Some rental property owners prefer to charge a pet deposit rather than a non-refundable pet fee. If you’re willing to give that money back at the end of the lease term the same way you refund a security deposit, you’ll have the money just in case there’s damage.
Pet fee or pet deposit? Here’s how these options work for you:
- Pet fees are non-refundable. Most pet fees we see range from $150 to $500 per pet. You can collect the pet fee before your tenants move in. Most pet fees are collected one time and they are often charged per-pet. That means if your pet fee is $200, and your tenant moves in with two cats, you’ll want to collect a $400 pet fee before the tenant moves in. We like pet fees because the money is non-refundable, even if you don’t have to use it to pay for pet damage. If you do find pet damage after a tenant moves out, you can pay for cleaning or repairs out of this fee.
- Pet deposits are different. Your tenant will pay the deposit before moving in, but you’ll only be able to use the money to pay for pet-related damage. You’ll have to return anything that wasn’t used at the end of the lease term. So, you may charge a $400 refundable pet deposit. If your tenant’s dog chews a hole in a wall and you pay $250 to repair it, you’ll need to return the remaining $150 from the pet deposit.
Some owners prefer to charge the deposit instead of the fee because they believe the hope of getting the pet deposit back will incentivize tenants to keep a close eye on their pets and not allow any damage.
Another benefit is pet rent. This is paid every month that the tenant is living in the property with their pet. We’ve seen amounts that range from $25 per pet to $60 per pet. You’ll add this amount to the rental amount every month, giving you more income and a bit of a reserve in case you need to do cleaning or make repairs that are due to the pets.
Screen Pets and Tenants
One way to ensure harmony between you and your tenants is to conduct a strict pet screening before you accept a pet. Once a tenant has been approved, screen the pet. This can include asking for vaccine information and health records from a vet, talking to former landlords about how the pet behaved, and ensuring the animal is micro chipped so you can identify that pet should the need arise.
We understand the concern that owners have about the damage that animals can potentially do to a property, but you’ll find that pets actually cause much less damage than people do. Good pet owners are good tenants. They take care of their animals, they keep up with vet visits, and they take care of your property. You’ll find they want a safe, clean, and happy home for their animals.
Protecting Your Los Angeles County Investment Property
You’ve probably inferred that we recommend allowing pets. You’ll want to protect yourself by creating a strong pet policy that’s clear and consistent. Decide whether you’ll allow pets on a case-by-case basis. You don’t have to approve the tenant who has six Pit Bulls or a litter of kittens.
- Pet Policy
Protecting your property while allowing pets begins with a solid pet policy. A Los Angeles property management team can provide you with a template. Here’s how we put together a good pet policy:
- Collect pet information, including names, ages, and photos of the pets. Require records of vaccinations as well as flea and tick treatments.
- Set boundaries that make you comfortable and still welcome pets. We recommend that you implement limits on the number of pets you’ll allow, and/or the size. For example, you can say that you’ll only allow one pet per property or two pets per property. You can require pets to be less than 30 pounds. You can require them to be at least two years old.
- Check with your insurance company about restrictions on dangerous breeds. Pit Bulls and Dobermans can be very sweet animals, but you cannot convince an insurance underwriter of this. They tend not to cover dogs that are considered vicious. You should prohibit these breeds or require your tenants to purchase additional insurance that will hold you harmless if something happens.
- Conduct tenant reference checks with former landlords. When you’re evaluating a tenant’s rental history, ask current and former landlords about the pets. You’ll want to know if they were well-behaved, if there were any complaints, and if the pet was responsible for any damage.
- Conduct Pet Inspections
Conduct routine inspections on your Los Angeles rental properties that are occupied by pets as well as people. Getting inside the home will allow you to check for evidence of pet damage. You can make sure that only the pets you have approved are living there, and that the pet population has not grown. When you drive by the home, you can check to see that dogs are on leashes, and you’ll know that the lawn has not been torn up by the animals.
When is a Pet Not a Pet?
Don’t forget that while you have the choice to allow or not allow pets, you may not prohibit service or companion animals when tenants are moving in with them.
We can talk through some of the essentials of protecting your property against potential pet damage while opening your rental home to good tenants and their pets. Contact us at El Camino Property Management.
Please note this information is deemed reliable, but not guaranteed. Please consult appropriate professionals for specific situations.
