Pets or No Pets in your Rental Property?

I love dogs and cats. But are they good for your Rental Property?

Pets CAN cause damages up to the tens of thousands. They can scrape the walls, the doors, and the cabinets, clawing all the veneer off. The carpet can be severely scratched and left with holes. If you want to allow pets in your rental homes, it is advisable that you increase the monthly rent because the government-regulated Tenancy Board will only allow you to collect half a month's rent for Pet Damage Deposit.

Be aware that if you allows pets and damages are done, it is often VERY difficult to collect money to do the necessary repairs. At worst, you may be faced with a complete renovation.

If your rental unit is old and the carpets and walls are already worn, you could consider now allowing pets into your property because you know that in time, you will be replacing them anyways. If you allow pets, your unit can be easier to rent because of the lack of supply for pet-friendly properties.