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Author Topic: Why You Should Love DOG$...  (Read 5819 times)

Offline furnishedowner

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Why You Should Love DOG$...
« on: May 05, 2011, 11:58:44 am »
I had a request to explain why I, as a landlord, love dogs.  Yes, it is the money.  I do know about doggy problems.

My rescued mutts Scrappy and Lilly daily dig holes in my yard, chew on the rug if I don't put them in the metal kennel, and of course deposit doggy doo to be picked up.  There's extra fur to be vacuumed, and once in a while the surprise on the carpet.  They sometimes bark, chase the cat, and I had to put in special fencing around the flower bed.  They are dogs.

So my tenants' dogs will do the same thing.  That's okay--holes are easy to fill in, wooden fences can get a couple of new pickets.  Floors become tile, hardwood, or linoleum when we remodel.

Look in your local newspaper--how many rental ads say "NO PETS"?

What if your ad said:  "Pets welcome, great fenced yard"?  Your phone will ring off the hook.

Tenants with dogs PAY MORE RENT.  Try it--increase your asked for rent by $100/month. Put in a dog yard.  Get a pet deposit (We ask for $250 in a refundable deposit and we add a monthly rental "furcharge" of $15).

Tenants with dogs STAY LONGER.  Where they gonna go?
Tenants with dogs like living next to other dogs.  Make your duplex units dog-friendly.  You can even fence in a 4 foot wide side setback and make a dog yard.

Smart landlords offer benefits.  A dog yard is a great benefit.

Furnishedowner





Offline jmd_forest

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Re: Why You Should Love DOG$...
« Reply #1 on: May 05, 2011, 01:33:20 pm »
I will allow reasonably sized dogs but require the tenants maintain an insurance policy that covers the liability.  Its not the damage to the property I'm afraid of, it's the lawsuit when Fluffy tears off the neighbor kid's face.

jmd_forest

Offline furnishedowner

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Re: Why You Should Love DOG$...
« Reply #2 on: May 05, 2011, 05:10:45 pm »
jmd_forest,
What kind of policy is that?  Pet Liability Policy?  Who issues them, and do you actually get to see the policy?

Furnishedowner

Offline jmd_forest

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Re: Why You Should Love DOG$...
« Reply #3 on: May 06, 2011, 07:01:53 am »
Its a renter's policy with a rider covering the pet in which my LLC that owns the property is named as additionally insured.

jmd_forest

Offline furnishedowner

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Re: Why You Should Love DOG$...
« Reply #4 on: May 06, 2011, 05:03:15 pm »
interesting.  That should work for a year-long lease agreement.  Here we have tenants with dogs staying as little as 30 days.  Like a hotel, I think we just have to accept the extra liability on those dog guests.

We do have the right to approve the pet, and we have turned away guard dog breeds in the past.  But even now I realize that today we have 2 pitbulls staying with us.  The owners call them "Staffordshire Terriers".  Unh huh.  But I personally met and approved both.

We have tenants who have accepted less than ideal houses (too small, no central air, etc.) because they had great dog yards.  These tenants have the money to stay at a Marriott Suites, and get hot breakfast and Happy Hour.  They stay with us because we are pet friendly.  You can open the back door and boot Rover out into the shady fenced yard.

Dogs are kids.  Dogs are family.  People don't give up their dogs. Take care of their dogs, and their dogs will take care of your vacancies and your profit.

Furnishedowner

Offline jmd_forest

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Re: Why You Should Love DOG$...
« Reply #5 on: May 06, 2011, 07:25:01 pm »
You're right, it works for a 1 year lease but maybe not for your business model. I'd be sure my insurance covered the dog issue. When speaking with my agent, many insurance carriers have a list of breeds that they will not cover. I simply cannot afford to shoulder the liability without insurance.

jmd_forest

Offline HPM

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Re: Why You Should Love DOG$...
« Reply #6 on: May 09, 2011, 09:15:48 am »
Can you share with us what insurance company will insure liability for a staffordshire terrier?
I know my insurance doesn't cover any breed on the dangerous breed list.
That list includes dobermans, rotweilers, pit-bulls, mixes of any of those, and all the breeds like staffordshire bull terriers that people use to hide the identity of pit-bulls.

I have several prospective tennants who want pit-bulls, I'd love to get them as tennants. Pit Bulls are great dogs in my experience, unless trained for maliciousness.
I can't find an insurance company who will give a pet policy for those breeds.

FurnishedOwner: I would venture to guess you actually wouldn't be covered if a tennant's staffordshire terrier attacked someone.
I hope I'm wrong, and if so, I'm excited and want that insurance.

Offline jmd_forest

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Re: Why You Should Love DOG$...
« Reply #7 on: May 09, 2011, 04:46:19 pm »
I have no idea of any company that will cover staffordshire terriers. If you ever find one, please post it so we will all know.

jmd_forest

Offline furnishedowner

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Re: Why You Should Love DOG$...
« Reply #8 on: May 09, 2011, 06:30:32 pm »
It seems like every other family in this area has a pit bull.  My daughter even had one once.  She called hers a "Rhodesian Ridgeback".  It was a big sweet dumb dog.

So I am going to have to read through my insurance policies again.  I may not be covered, and yes, stuff can happen.  I am going to look into those renter's policies that extend liability coverage to those dogs.  Especially since one of the tenants with a dog is being housed by an insurance company.

Furnishedowner

Offline jmd_forest

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Re: Why You Should Love DOG$...
« Reply #9 on: May 09, 2011, 06:52:57 pm »
In the unlikely case one of your tenants' dogs actually does bite someone (even a member of the tenant's family) it is almost a certainty you WILL be sued... you personally, your company, and everyone else the victims lawyer can remotely justify. Everyone wants to win the litigation lottery. Couple that with sympathetic juries that also want to win that lottery someday and it is not unrealistic to find yourself subject to a large claim.

I explain to tenants that its their pet and if they want it to live in my property they need to take responsibility for it.  If they're not willing to be responsible for it, why should I? Generally, tenants don't worry about such things because they are judgment proof (have no substantial assets).

jmd_forest

Offline HPM

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Re: Why You Should Love DOG$...
« Reply #10 on: May 10, 2011, 10:09:37 am »
Pit-Bulls are very common in my rental area too. That's why I'd be super-excited if I could find a company that would give renter's insurance w/o a dangerous breed exclusion.

My insurance guy was able to find insurance that would exclude the dog from coverage rather than drop my policy, but that was the best he could find.

I love tennants with pets.

 




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