Unleash Your Pet Policy

If you are in the rental business and have not thought about pets, you are asking for trouble.  Pets can be wonderful companions and excellent security but they also have several issues that come with them.  First, pets have waste that can quickly ruin a nice rental home.  Also, pets can chew and scratch.  This damage can take thousands of dollars to repair.  Next, pets can injure visitors or neighbors.  This can cause medical expenses and lawsuits.  So what is your pet policy?  Do you require the tenant to have insurance?  Do they have to pay additional deposits?  Do you have a breed-specific policy?  You should consider all of these because the money coming out a pocket will likely be yours.  Founder/Managing Partner Lamar Hunt Jr. recommends that you check your lease agreement for provisions that cover pets.  Also see your lawyer for additional provisions and advice.  But, as fun as pets can be, they are a big responsibility.  Plan ahead before a tenant with a pet takes a bite out of your budget.  For more real estate tips, see our blog at  http://lorettoproperties.com/.  You can also call us at 913-236-2902 if you have a property to sell.