The Pros And Cons Of Allowing Pets In Your Salt Lake Rental Property

The Pros And Cons Of Allowing Pets In Your Salt Lake Rental Property

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When renting your property you have a big decision to make: should you allow pets? 58% of Utah households have a pet, according to research from Data Pandas. By not allowing pets you are cutting off a big chunk of the market.

Your pet policy affects your rental income, property condition and tenant pool. Some landlords worry about property damage and extra maintenance, others see pets as a way to increase revenue and get long term tenants.

The Pros And Cons Of Allowing Pets In Your Salt Lake Rental Property

Should you allow pets in your rental?

Making your property pet friendly opens up big advantages. You’ll have access to a much larger pool of potential tenants, which reduces vacancy times and allows you to be more picky with quality tenants. You can also create additional income streams through pet rent, usually around $50 per month, plus pet deposits to offset the risk.

Pet owners tend to be longer term tenants because finding another pet friendly rental can be tough. Once they find a home they like they are more likely to renew their lease rather than go through another housing search. This reduced turnover saves you money on marketing and unit prep between tenants.

What are the risks and downsides of allowing pets in your rental?

Pet friendly properties have some challenges. Property damage is the biggest one, with risks of scratches, chewing or accidents that exceed standard security deposits. You’ll have higher maintenance costs for deep cleaning and odor removal between tenants plus wear and tear on flooring, carpets and fixtures.

Noise can be a problem, especially in multi-unit properties where barking can disturb neighbors. You may have to deal with complaints about pet behavior from nearby residents or issues between tenants with and without pets.

How do you protect your rental property from pet damage?

Strong pet policies help mitigate these risks. Start by collecting both a regular security deposit and a separate pet deposit. Many landlords make half the pet deposit non-refundable to cover deep cleaning costs at move-out. Document all pets thoroughly during move-in with photos and detailed information about breed, size and age.

Create detailed pet agreements that specify size limits, breed restrictions and behavior expectations. Regular property inspections help catch any issues early before they become big problems. Consider requiring proof of vaccinations and pet liability insurance from your tenants.

What about service animals in Utah?

You must allow service animals and emotional support animals (ESAs) regardless of your pet policy. ESAs need reasonable accommodation under Fair Housing laws when tenants provide proper documentation. But you can deny ESAs that pose a direct threat or would cause an undue financial burden to your property.

Local laws may restrict certain breeds or limit the number of pets allowed in rental properties. Check your local laws and insurance policies to see what the limitations are before you set your pet policy.

Allowing pets is a balance of income potential vs property risk. With proper screening, documentation and policies in place many landlords find that pet friendly properties can be profitable and manageable. Just create clear guidelines and enforce them consistently to protect your investment and take advantage of the pet friendly rental market.

The Landlord’s Guide To Rental Inspections And Tenant Accountability In Salt Lake

The Landlord’s Guide To Rental Inspections And Tenant Accountability In Salt Lake

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When it comes to inspections, we always tell property owners that the most important interaction with tenants is the walk through inspection.

This happens once you have collected the security deposit and the lease is signed.

Most property owners miss this important step, but without a complete move-in inspection report, it’s difficult to hold your tenants accountable for the condition of the property at the end of their lease.

The Landlord’s Guide To Rental Inspections And Tenant Accountability In Salt Lake

The Move-In Inspection

Make sure to have a standardized inspection form for this part of the process. It helps to make sure you’re consistent with each of your properties, and that the record of the property’s condition is well documented at the start of the tenancy. This form also serves as a reference point throughout the lease and during the move-out inspection.

What happens during a move-in inspection?

The move-in inspection is where you’ll walk through the property with the tenant, and allow them to actively participate in the process. This collaborative approach will ensure both parties come to agreement on the property’s condition.

When you go through each area, document any existing damage or issues. If you find minor problems during this part of the inspection, you may want to address them soon. Creating a work order and fixing the issues immediately can actually go a long way to build respect and trust with your new tenant.

How often should a landlord inspect a rental property in Salt Lake City?

This is a question we often hear at Advanced Solutions Property Management, and our standard response is this: regular inspections throughout the lease period are important to ensure lease compliance, and maintain the good condition of the property.

There are a few quick external checks you can complete during a monthly drive-by inspection:

  • A large number of cars parked outside the property
  • Visible damage to the exterior of the property
  • General cleanliness and maintenance of the landscaping
  • Aluminum foil on the windows

These quick inspections will help you find potential problems early and address them with the tenant quickly.

The Move-Out Inspection

When the lease is finished, this is when you’ll want to conduct a full move-out inspection, using the same form you used during the move-in inspection.

However, this time the landlord or property manager will hold the form and lead the inspection process.

Note any changes between the current condition and the state of the property during move-in, and indicate damages and cleaning issues on the checklist. Be as detailed and thorough as possible, documenting everything from the cleanliness of the carpet to the condition of the window coverings.

What are some common issues found during move-out inspections?

We recommend having a standardized price list for the common damages and cleaning issues during the move-out process, which can help streamline the process of deducting the costs from the security deposit.

This list should be incorporated into your inspection form, and help tenants understand the costs incurred from damage or inadequate cleaning.

Here are some of the common issues we find:

  • Carpet damage and stains
  • Wall damage like scuffs, holes and unapproved paint
  • Broken window blinds
  • Broken light fixtures

By clearly documenting any of these issues (or others you discover) and having the costs for repairs and cleaning recorded, you create a clear process that can help reduce any disputes or misunderstandings with tenants.

What are the benefits of rental property inspections for landlords in SLC?

There are several advantages we see with thorough and regular inspections:

  • Helps to maintain the property’s good condition
  • Reduces the chance of disputes over deductions to the deposit
  • Sets clear and realistic expectations for tenants over care of the property
  • Allows for quick identification and resolution of problems

How can a property management company help with rental inspections?

While it’s true that individual rental property owners can implement all of the above inspections, we think the expertise that a Salt Lake City property management company can offer is invaluable. They will typically have:

  • Established inspection procedures
  • Standardized checklists and forms
  • Knowledge of Utah rental laws and regulations, especially concerning inspections and security deposits
  • Experience with assessing the property’s condition

Also, because we’re a third party, a property manager can provide a completely objective perspective, which helps in keeping a professional relationship between you the property owner, and then tenant.

Implementing standardized inspection practices can help property owners better protect their investments, ensure fair treatment of each tenant, and hopefully leave a great rental experience for all parties involved.

How To Set The Right Rent Price

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To set the right rent price, we recommend researching your market to learn what the fair market rent price is in your area. Pricing your rental at the rent price that makes sense in your location can mean the difference between vacancies and attracting good tenants so you can rent your property quickly. You can also use online applications such as Rentometer to help guide your rental rates.

As you set your rent price, you should keep in mind how it affects your financials. After all, rent payments are your main source of income on your rental property. To compare your rental income to your rental expenses, you should list your fixed and estimated expenses. Fixed expenses are your mortgage payment, property taxes, insurance fee, and HOA fees. Your variable expenses are utilities, repairs, and property improvements. By comparing income to expenses, it’s easier to see how rent price affects your monthly revenue.

There’s no point in setting the right rent price if you have tenants who don’t pay on time, which is why the next tip is critical.