Choice of pets in new building

[DavidChien]

I am looking for some advice regarding the choice of pets to be allowed in my rental unit.

I have just completed a transaction on a 2 bedrooms unit in a new hi-rise building. The property manager asked me if I allowed pets, if not, then i may exclude a certain segment of the renters, possibly even good renters. My question is, if I relax on this condition, should I rent to someone with cat ? or dog? Thanks in advance!

 

[invst4profit]

I like pets and have had both dogs and cats as pets myself but from a business perspective they are a financial negative.

It is not the pet that is the problem it's the pet owners. Some are responsible others are not. When renting to pet owners you have no way of knowing what you are going to get. Cats, dogs they are equally problemsome. All cats smell and destroy carpets, all dogs bark, disturb neighbours and destroy property.

Personally I have preferred in the past to eliminate that segment of tenants from my properties. I have always had more than enough qualified applicants that the decision was the right one for me.



Keep in mind pet deposit are allowed in some provinces because it is recognised that pets are a financial problem for landlords.

 

[DavidChien]

Thanks Greg. That was our position before.

Perhaps there are quite a few selections for the renters to choose, that why we are looking into this alternative . Secondly, I've found that the key is to look for the good pet owners first, then the type of pets (ie. cat/ dog) to be allowed. am I on the right track? With that said, any suggestions to filter out the good pet owners in the ad?

 

[invst4profit]

There is no way to filter pet owners short of visiting where they live and inspecting there homes. This is not practical and does not necessarily confirm either way whether there pets have annoyed neighbours.

I have on numerous occasions known individuals that deny their dogs bark when they are left alone yet neighbours have been of a different opinion.



If you have the right to refuse applicants or evict tenants that take in pets I would definitely not allow pets. The number of applicants this may eliminate is far less important, in my opinion, than having to deal with pet complaints.

However I am very proactive in the management of my business and prefer to target the best quality tenants I can, Avoiding problems is easier than solving problems.