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5 Rules for Keeping Pets in a Rental Property in Lake Villa, IL

5 Rules for Keeping Pets in a Rental Property in Lake Villa, IL

Did you know that around two-thirds of US households own pets? Did you also know that good pet owners tend to make great tenants? This means that having a pet-friendly policy for your rental property can make you a much happier landlord.

However, you do need to set some basic rules to make having pets in a rental property work at its best. A pet policy protects your investment property from damage and can make life more liveable for other tenants. Check out these five basic rules to see what an ideal pet policy should look like.

1. Require Pet Registration

You can make as many rental pet policies as you like, but they mean nothing if you can't enforce them. A pet registration requirement is like tenant screening but for pets.

Ask that everyone bringing pets in give a document with the pet's details (size, breed, gender, etc.). When you have that information, it'll be easier to enforce some of the other rules. It'll also make it easier to determine if the pet caused any property damage according to its capabilities.

2. Pet Type and Size Restrictions

All pets add an extra property maintenance burden, and this burden increases with the size of the pet. The bigger the pet, the bigger the burden.

If your property is far too small to accommodate larger dogs (the usual culprits), then put in a pet size and type restriction. This will also protect delicate properties (for example, older houses with original wooden floors). Note that service animals are exempt from such restrictions, but you can still ask owners to have the animal's nails cut as part of your agreement.

3. Require Proof of Vaccinations

If you have a larger complex of rental units, you'll need all the animals to be healthy. This protects other tenants as well as their pets. Asking for proof of vaccination gives you peace of mind that your tenants' pets won't become rabid lawsuit magnets.

4. Make Tenants Aware That They're Responsible for Their Pet(s)

Another one of the best landlord pet rules to put into a lease agreement is a clause or disclaimer stating that pets are their owners' responsibilities. This makes it clear that the tenant must keep their pet clean, quiet, on a leash, and well-behaved. A clause like this makes managing disputes simpler.

5. Consider Charging a Pet Fee or Deposit

Charging a pet fee is a great way of getting the extra money it'll cost to maintain the property. Pet deposits in rental properties are even better because they incentivize pet owners to go out of their way to make their pets behave.

Make Having Pets in a Rental Property Easy

Keeping pets in a rental property does increase the risk to the property and neighboring tenants, but it also creates a massive financial opportunity for landlords. Take advantage of the opportunity while minimizing the risk by adding a few more rules.

Require pet registration and vaccinations, and have pet size and type limits when appropriate. Make tenants aware of their extra responsibilities, and consider charging an extra deposit or fee to cover all your bases.

Crafting effective rental policies is what we do at the Grand Realty Group. Contact us today for more industry-leading management tips and expert help with your rental property.

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