Something To Consider When Renting To A Tenant With A Pet
Consider when a renting to a tenant that has a pet, particularly a dog, is the liability. What is the owner's liability if the tenant's dog
bites someone while on the owner's property? One way to help protect yourself is to require the tenant to obtain and carry Renter's
Insurance. The liability-clause in the renter's insurance policy will cover the tenant's dog. Remember, most insurance companies
have a list of dogs they will not allow on the property. Check with your insurance company to insure that you do not violate their
policy, which could result in your Homeowners policy being canceled.
Something to think on.
There is a famous old story about a company that had a problem, and they called out a repairman to fix it.
The entire company was on the verge of shutting down production because no one at the company had been able to identify this
problem,let alone fix it. The repairman soon arrived, checked out the situation, went over to one of the many miles of pipes running
through the building, and started banging on one particular pipe. He banged for about a minute. He then ordered the crew chief to
restart the machinery. Production was restored and everyone was happy.
A few days later, the company received the bill for the repair.The company manager was shocked to see that the amount due for
the repair was $10,000. The manager called the repairman and shouted in the phone, "This repair bill is for ten thousand dollars!
Where do you get off charging me $10,000 for what amounted to banging on a pipe for all of about 1 minute?!"
The repairman calmly replied "OH, I only charged you $50 for banging on the pipe. The other $9950 was for knowing precisely
what pipe to bang on."
Do you know all of the landlord/tenant laws for your city, state, and federal government?
Do you know rent values, vacancy factors, and time on the market in your area?
Do you have a rental application and consistent screening policies that meet all of your legal obligations?
Do you take the time to perform thorough move-in/move-out written inspections and routine property inspections?
Do you personally know reputable repairmen who are licensed, insured, affordable, and reliable?
Do you effectively confront and negotiate with the tenant and enforce the terms of your rental agreement?