There’s a lot to say about pets. Some rental property owners are quick to open their doors to pets, while others hesitate to allow animals, fearing damage and liability.
Today, however, we’re not debating the pros and cons of renting out a pet-friendly home. Instead, we’re talking about how to create a pet policy that will protect your investment while still appealing to the maximum number of tenants. The pet-friendly housing market is in high demand, and a significant percentage of renters own pets. This is particularly true in Albuquerque, where residents often see pets as family members. Properties that welcome pets stand out in listings, attract long-term tenants, and may even justify slightly higher rent rates.
Being pet-friendly requires landlords to balance opportunity with accountability. Let’s take a look at what landlords will want to consider including in any pet policy.
Define Pet Types and Size Limits
Not all pets are the same. While most policies focus on dogs and cats, consider whether your property can accommodate other animals like birds or fish. It’s also smart to specify limits on pet size, breed, or number of pets to maintain property conditions and neighbor relations. For example, small or medium-sized dogs might be a better fit for multi-family units than large breeds.
A pet policy will establish how many pets are allowed, how big they’re allowed to be, and whether there are size or weight limits.
Require a Pet Agreement
Create a detailed, legally compliant pet agreement that outlines tenant responsibilities when they move in with their furry friends. This document should include requirements to:
- Always clean up after pets (both indoors and outdoors).
- Supervise pets to ensure they don’t disturb neighbors.
- Prevent pets from causing property damage.
Transparency here sets expectations for both parties and strengthens your lease agreement.
Charge a Pet Fee or Pet Rent
Protect yourself financially by charging an appropriate pet fee or even monthly pet rent. Be sure to outline these fees in the lease agreement while complying with state regulations. We prefer fees to deposits because a deposit does not have to be returned at the end of the lease agreement.
Set Maintenance Guidelines
Pets like to scratch, chew, and shed, all of which can take a toll on your property. Regular maintenance will help mitigate long-term damage. Encourage tenants to groom and clean up after their pets. Inspect rental properties periodically (make sure this is included in both your pet policy and your lease agreement). This adds a layer of accountability while giving you peace of mind.
Consider Insurance Coverage
Review your landlord insurance policy for any clauses related to pets. Some policies may have restrictions when it comes to “high-risk” dog breeds, while others may offer additional coverage for pet-related damages. Renter’s insurance is required from your tenants, too.
Showcase Pet-Friendly Amenities
If your property offers pet-friendly amenities, be sure to emphasize them in your rental listings. Features such as fenced yards, nearby parks, or designated pet areas in multi-family units appeal to tenants with pets. Highlighting these amenities can set you apart from competing listings.
Let’s talk more about welcoming pets while also protecting your property from them. Contact us at Bruni Karr Agency for more information about anything related to Albuquerque property management.
