Some investors do allow tenants to have pets, some don’t. this is a personal preference. Some real estate investors don’t like pets because of the potential for more property damage than normal.

The good thing about allowing pets it that it will broaden your pool of tenants to choose from. These days most pet owners treat their pets as children, taking good care of them and the property as well.

Another good thing is that tenants with pets tend to stay longer in the rental properties than those that do not have pets. It is simply tougher for them to find a place that will allow pets. This lowers the amount and frequency of vacancies the investor may have which can save money.

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Rental rates can be higher for tenants that have pets. Bigger security deposits can be used as well. That way if a pet does do some damage, the investor has the money to make the necessary repairs.

As always, do an inspection before the tenants move in. Have them do the same thing. That way there will be no issues if there is a question about property damage. Taking pictures before and after is also a good idea.

One thing to remember when dealing with pets. Any pet that is used to assist someone who is blind, deaf, or disabled must be allowed regardless of the investor’s pet policies. Denying a tenant based on this type of pet is definitely prohibited.