I my time at a Park City property management company managing Park City long term rentals I have learned a few things about maintaining a positive tenant relationship. It isn't always easy and in fact as a property manager you sometimes have to be the bad guy. Ultimately the relationship between a landlord and a tenant amounts to an agreement. A landlord agrees to rent a piece of real property to a tenant and provide them with certain services along with that property. A tenant agrees to pay for the use of that real property and abide by certain restrictions on that use. A tenant may also be obligated to perform certain acts in regards to the property such as mow the lawn, change light bulbs and keep the place clean.
Disagreements or problems in the tenant and landlord relationship typically arise when one party is failing to fulfill it's portion of the agreement. Maybe the tenant isn't mowing the lawn regularly or the landlord isn't responding to maintenance requests in a timely manner. Today I would like to discuss five tips that I have found will help establish and maintain good tenant relationships in Salt Lake City property management.
1. Setting Expectations - The best way to avoid disagreements or misunderstandings is to have a clear understanding between both parties of what the expectations are in the agreement. If there are certain rules that the tenant must abide by then these rules should be presented to the tenant prior to signing a lease. Often rental properties are part of a home owners association or planned community that requires residents to abide by certain rules or restrictions. A landlord should notify tenant of any rules, preferably as an addendum to a lease agreement. If there are specific maintenance responsibilities that are the landlord's responsibility then there should be established channels for a tenant to file a maintenance request should the need arise.
2. Be Professional - You should always treat every tenant or potential tenant in a professional manner. Even if your rental property is your former home sentimentality should not rule the decisions you make for the property. Be aware to how you should comport yourself when it comes to things like fair housing laws, disabilities and service animals. Never respond emotionally or unprofessionally to a tenant. Even if you've had a horrible day and the last thing you want to hear is a maintenance request from your tenant it is not your place to be rude or dismissive. Park City property management has no room for unprofessionalism.
3. Properly Screen Tenants - This step is crucial to avoiding problems down the road. Just because a person seems nice on the phone or in person and is willing to move in right away does not mean they are a good fit for you or your property. Take the time to check references and rental history. Verify employment and run a good background and credit check. This property is your investment so make sure you complete your due diligence with every tenant.
4. Respond Quickly To Requests - When you receive a maintenance request from your tenant you should respond as quickly as you can. Also be aware that certain items may constitute a habitability issue and you are required by law to begin making repairs within a specified amount of time. Even if the item seems trivial it should be important to you. Taking on a request quickly and professionally will go a long way in Salt Lake City property management.
5. Know When To Say No - There comes a time when even the best tenants ask for something that is not possible or out of the scope of the rental agreement. The best way to handle these situations is to be up front with the tenant that their request is not possible and give them some explanation as to why. People appreciate being treated like thier concern matters, even if it can't be resolved.
If you would like more information on creating good tenant relationships, or further information about Park City property management in general click the link below for a free consultation. You will receive valuable information specific to your property that will help you make an informed decision. You will also receive a free, no-obligation quote on our property management services. At CC Realty we specialize in making investment property ownership a trouble free experience. Please contact us today for your free consultation.
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Today's blog post comes from a conversation I had yesterday while watching my daughter's soccer game. Another parent on the team who also lives nearby asked what I did for work and I told her I was in Park City property management. She then said that she and her husband currently owned and lived in a condo but were thinking of buying a house and renting out the condo.
I think many young people sort of fall into being a landlord in this manner, I know I did. As a young couple starting out they wanted to own a property and could afford a two bedroom condominium. Then a few years pass, a child or two comes along and before you know it the two bedroom condo is getting tight and it is time to upgrade. If you aren't in a position to cash out equity from your condo it may make sense to rent it out but where do you begin? Here are some tips for new landlords in Utah property management.
Do Your Research.
Before you throw up some pictures of your property online or sticking a For Rent sign in the window you need to do a lot of research. There are a lot of free resources available to new landlords through both state and local government. You should get educated on basic landlord-tenant law that pertains to long term rentals in Park City or Utah, and Park City property management in general. Researching laws is also helpful when it comes to determining what lease you will use for youre property. Make sure it has the provisions you need to feel protected. You may also consider establishing an LLC to further limit your liability but beware there are fees and taxes associated with one. You will want to look at what comparable properties in your area are renting for. This means determining what avenues are used to market properties in your area. If you are pretty handy with tools you should plan on fixing things yourself. If not it is good to already know reputable contractors for things like plumbing, electrical, HVAC and appliance repair just to name a few. Having already established relationships means you aren't stuck trying to get a hold of a random plumber on the weekend when your tenant calls to tell you there is a leak. These are just a few of the things you will want to become knowledgeable on when it comes to Utah property management.
Hire A Property Manager.
If you feel like you don't have the time or ability to gain the knowledge you need to successfully manage your property you might want to consider hiring a property manager. For minimal monthly fees a qualified property manager will become the professional face for your rental property. Think about it this way: You will have a professional staff of experienced individuals working fulltime for you for around $100 a month! Park City property management companies have already established all the necessary components for managing a long-term rental in Utah. A Utah property management company will already be well versed in the legal aspects of property management, have established market channels, knowledgeable employees, a network of vendors, experience in finding, screening, and placing tenants, provide monthly and annual statements and tax returns, and be available for 24 emergency response so you don't have to worry about your property.
If you would like more information for first time landlords, or further information about Park City property management in general click the link below for a free consultation. You will receive valuable information specific to your property that will help you make an informed decision. You will also receive a free, no-obligation quote on our property management services. At CC Realty we specialize in making investment property ownership a trouble free experience. Please contact us today for your free consultation.
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A crucial part of any landlord's operation in Utah property management is quality tenants. They make being a landlord a breeze, provide you a good return on your investment and are one of the best assets you can have. I have previously talked about tenant screening in my post "5 Ways Tenant Screening Helps - Park City Property Management". However if you are buying an investment property with existing tenants there are special considerations to make.
I have been the property manager for several properties either bought with a tenant already in place or sold with existing tenants. If you would like some tips the selling side of things I recently wrote "Selling An Investment Property - Park City Property Management" . Today we are going to focus on the buying side and how to deal with an investment property already occupied by tenants in Utah property management.
Tenants With A Lease
The first thing you should understand about buying an investment property with tenants is that the lease with the previous landlord survives the sale of the property. A tenant still has the same rights granted them by the original lease. You cannot change or alter the terms of the existing agreement even though the ownership of the property has changed to you. I recently was involved in the sale of a property for which I was providing rental management services in Park City. The purchaser of the property intended to keep it as an investment and function as the landlord after the sale. Naturally both the tenant and the prospective buyer had many questions about how to proceed. Both parties were informed that the existing lease that was executed between me as the property manager and the tenant would be in force through the sale and remain so until the term had ended. I informed the tenant and buyer that they would have to then negotiate a new lease once the term had expired on the current one. None of the terms of the lease could be changed after the sale, an example being the new landlord wanting to raise the rent or the current tenant claiming a different end date to the lease. This would apply for either short term or long term rentals in Park City.
Tenants Without A Lease
A tenant not having a lease on the property they are residing in can happen in a few different ways in Utah property management. Perhaps the seller of the property wants to reside in the property as a tenant after the sale. There could also have been some type of oral agreement between the tenant and the previous owner. Or the lease has expired some time prior to the sale but the tenant has not signed a new agreement with either the previous or current owner and has not vacated the property. Many of these circumstances could qualify as a "tenant at will", a specific legal term that basically amounts to an occupant of a property who does not have a current lease on the property. If you are purchasing a property and the tenant does not have a lease you should consider using an estoppel agreement prior to purchasing. An estoppel agreement is used to establish the terms of the lease agreement between the current landlord and tenant, Things like rent, deposit, term, and any other consideration can be spelled out so that you as the purchaser will know what you are getting into and a tenant cannot come back and claim different terms after the fact.
If you would like more information on buying an investment property with an existing tenant, or further information about Park City property management in general click the link below for a free consultation. You will receive valuable information specific to your property that will help you make an informed decision. You will also receive a free, no-obligation quote on our property management services. At CC Realty we specialize in making investment property ownership a trouble free experience. Please contact us today for your free consultation.
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In my very first blog post I wrote briefly about the necessity of properly screening tenants for Park City property management. If you would like to read my original post, 3 Tips For Successful Park City Property Management you may do so by clicking here. Today I would like to dive a little deeper into tenant screening and given you some of the top things you should do in order to find the right tenant for your property. Tenant screening cannot be stressed enough. Properly screening all potential applicants can be the difference between having great tenants who will take care of your investment and spending thousands of dollars and lots of your time trying to fix what the wrong tenants have ruined.
Verify Employment
When looking at prospective tenants you might think "I don't want a person with a dog", or "How soon can you move in", but what might go overlooked is how a person will pay the rent. Unless your tenant has a trust fund or parents paying rent you should be concerned if a person indicates they do not have a job on your application. And if you aren't using an application it is time to change your ways. An application should also ask gross monthly income. If your rent is $1200/month and the stated income is $1400/month there might be a problem. Having this information, along with a telephone number and name of the prospect's supervisor on your application is only the first step. You will also want to call the person listed as a supervisor to verify employment. This doesn't, and really shouldn't be a long conversation about their work habits and how much money they make. Just simply state who you are, that the prospect is applying to rent your property and you are calling to verify the employment they listed on the application. You really don't need to know more than this and employers cannot tell you more without violating the confidentiality of the employee. Now you know that your prospective tenant can pay let's take a look at some other useful things to check on in your Park City property management endeavors.
Rental History
It is said that past behavior can be a predictor of future behavior. While not fool proof a great way to see how a prospective tenant will behave is to check their rental history. Your 
application should ask for previous rental history, amount of time spent at the previous rental, monthly rent and landlord's contact information. If a person seems to have moved frequently in the past year and doesn't have a reasonable explanation for it then you should probably stop right there. You should also contact the previous landlord and ask them how the prospect was as a tenant. Did they pay rent on time? Were there any complaints against them? Did they take good care of the property? Would the landlord rent to them again? If they have a pet how did the animal behave and was there any damage caused by the animal? Asking these types of questions can help you weed out potential tenants who might be a problem and find great tenants who will take care of your property. You are turning over the care of an expensive asset to a person, you should make sure they are the right person for the job. A little effort here can save you a lot of headaches and money in Park City property management.
Background Check
A good background check is another tool in a landlord's toolbox to help determine if a potential
tenant is the right fit for your property. A background check should include a credit score, list of creditors, as well as criminal history based on the most recent address provided. Minor traffic violations and the like will not show but things like DUIs, felony convictions, sex offender registry, etc. will. Credit score should be taken with a grain of salt, in my opinion it is not the magical number that some use it as. Life circumstances such as divorce, a business closure, and medical problems can damage a credit score but not necessarily a person's ability to pay rent. Use your best judgment and you can end up with a great tenant.
If you would like more information about Park City property management sign up for a free, no obligation consultation.
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If you own a rental property or are in the process of purchasing or upgrading one chances are you have thought about replacing appliances. Whether an older unit has failed or the property is in need of some refreshing, new appliances are a way to add value to a property. There are also significant savings to be had by using Energy Star appliances in your property. Today I would like to take a look at these savings for Park City property management.
What is Energy Star?
I'm sure most of us have heard of energy star appliances or are even familiar with the sticker that is found on certfied appliances. The program is overseen by the Environmental Protection Agency (EPA) and is set up as a "voluntary program to identify and promote energy–efficient products
and buildings in order to reduce energy consumption, improve energy security, and reduce pollution through voluntary labeling of or other forms of communication about products and buildings that meet the highest energy efficiency standards." Products such as washers, stoves, and refridgerators that carry the energy star logo have to undergo third party testing at laboritories certified by the EPA to perform energy star testing. Products that become certified are also subject to "off-the-shelf" testing every year. This testing is to ensure that any potential changes in manufacturing or producing a product do not reduce the energy efficiency of the product for the end consumer. Homes, commercial buildings, and industrial plants can also receive the energy star designation through a rigorous evaluation and approval process. Many common appliances are available with an energy star designation and these can have a very useful impact for Park City property management operations.
Savings By Appliance
There are many appliances in a home that you can find energy star replacements for. All are designed to perform at the same level as regular appliances while providing significant energy savings. Here are a few of the major appliances along with energy savings and a brief description.
- Clothes Washers: certified clothes washers use 20% less energy and 35% less water. You not only save on your water bill but also through having to heat less water. If every clothes washer purchased in the US this year was an energy star appliance we would save 20 billion gallons of water and $250 million on our energy bills.
- Dishwasher: certified dishwasher use advanced technology to monitor how dirty dishes are during the cycle and make adjustments accordingly. This saves on the amount of water and electricity used while still making sure your dishes get clean!
- Refrigerators: while only 15% more efficient than current models that are not certified, energy star models are significantly more efficient than from 10 or more years ago. If you have an older fridge it may be time to look at saving.
- Other Items: water heaters, furnaces, air conditioners, light fixtures, fans, televisions, computers, freezers, and dehumidifiers are just some of the appliances that you would find in many homes that are also energy star certified. If you are looking at replacing any of these items it is worth your time to look into energy star options.
Going Green
In a previous blog post I talked about the the benifits of green rentals. You can read that post, entitled "Green Rentals - Tips From Park City Property Management" by clicking here. Aside from the obvious monetary benifits green rentals will appeal to many potential tenants who value the environment and appreciate a responsible landlord. Use your energy star appliances in your marketing efforts both for the green aspect as well as cost savings for the tenant. You can also go to the EPAs website on energy star appliances by clicking here.
If you would like more information about Park City property management download our free white page "5 Questions Every Landlord Should Ask Themselves".
Most, if not all property owners carry insurnace. In fact if you have a mortgage on your property you are usually required to carry a policy to pay off the mortgage in the event of significant damage to the home. But what if the property is not your primary home but a rental property? If you rent your property out you should strongly consider requiring your tenants to purchase renter's insurance. Here are a few reasons why renter's insurnace is a good idea for Park City property management.
For Renters
If you are a tenant you may think insurance isn't necessary; it's not your property right? You might only have some clothes, a little furniture and not much else. But think about the cost of replacing all the things you own at once. A new wardrobe, couches, table and chairs, TV, computer, iPad, smart phone, etc. can add up to a significant cost when purchased new at one time. A loss of all your personal property can completely swamp some people, not to mention loosing your place to live. And this would just be for a single person. Factor in a spouse or children and all their personal belongings and you are looking at a replacement cost of thousands of dollars. Basic renters insurance policies can cover a loss of your personal property at rates around $10/month. This is a small price to pay for the peace of mind you will have knowing that things like a house fire, flood, or other disaster will not wipe out all that you have worked hard to have.
For Landlords
Let me share a story of how a tenant with renter's insurance can benefit a landlord in Park City property management. This tenant was doing their laundry one day and decided to hang some clothes from the sprinkler head in their condo. This was a bad idea. The sprinkler head popped and began spraying all over the condo. The sprinkler line was part of a building-wide system and is charged with water and a sticky, syrup-like chemical that lowers the freezing point. As you can imagine there was quite a mess to clean up. Fortunately the tenant had renter's insurance. A claim was made and the insurance company took care of the damage. The landlord wasn't out any money, the tenant had to cover their deductable and then after that the insurance picked up the cost. When viewed in the aftermath of a situation like this the small monthly cost of renters insurnace is completely worth it, both for tenant and landlord.
A Property Manager's Opinion
Requiring renters insurance is a good idea for several reasons. Not only from a perspective of protecting property and valuables but also in the caliber of tenants in a property. A tenant who values their property and insures is much more likely to value another's property as well. If there are small damage claims a tenant with renter's insurnace is less likely to argue about paying for the charges as they can file a claim with their insurnace. We make all renters sign a form that requires them the purchase renter's insurnace. This protects the tenant, the landlord, and us as property managers. If you are considering getting involved in Utah property management or if you already manage a property in Park City you should strongly consider requiring your tenants to purchase renters insurance.
If you are interested in learning more about property management for Park City, Utah, download our free white page "5 Questions Every Landlord Should Ask Themselves".
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A well written, accurate rental description is a great way to draw interest in your available rental property and give yourself an edge in a sometimes competitive market. A rental description is often the first thing a potential tenant encounters when looking for property. Today's blog post will give you some tips and tricks to write a good rental description that will help in your Park City property management.
Grammar And Spelling
Perhaps this is obvious but you should always use correct grammar and spelling in your rental descriptions. Incorrect grammar or poor spelling immediately creates certain opinions in potential tenants about you and your property, none of which are positive. A concise description with proper grammar and spelling is preferable to a wordy, long-winded advertisement with lots of errors. Nowadays most advertising for rental properties is done online, either through craigslist or other pay services. Some may provide a spell check feature, some may not. Many internet browsers also automatically check spelling. However I recommend typing out your whole posting and then copy and paste it into a Word document. This was you will have not only spelling but grammar checked. It's a simple process and you can make sure that your posting is ready before showing it to the world. Easy steps like these will also give you an advantage against your competition. It's sad that in a world will all the programs and ways available to people there are still some really poor examples of grammar and spelling, even in Park City property management.
Word Choice
Great word choice can be the difference between a bland description and one that creates excitement in potential tenants. It can also be the difference between accuracy and hyperbole! Take some time to think critically about your property. You may think it's the Taj Mahal but there is only one of those and it isn't available for rent. Be honest in your description but choose exciting words that will catch people's interest. Is your property old-fashioned or is it vintage? Was the property built recently or is it new/modern? What about
the atmosphere a property creates? Words like casual, rustic or formal help interested parties form an emotional opinion about the property. If there are features about the property that set it apart, say a generous master bedroom or spacious backyard, then highlight them using emotionally descriptive words. "Big" may be accurate but it lacks an emotional component. Is the property located near favorable amenities? If so list them with terms like "walking distance" or "short drive". If the property is not located near anything use terms like secluded or private. Some people want to be close to the action and some want to get away. Don't try and make your property into something it's not. Nobody would sell a cabin in the woods as "urban", so don't characterize your property as anything but what it is.
Other Considerations
Have you just recently installed new appliances or remodeled something? You can easily state these facts but using more descriptive terms live "stainless steel" or "granite counters" and "travertine floors" will give prospective tenants a better idea of the quality of finishes available in the property. Does the property have a beautiful view? Is it located on a quiet, tree-lined cul de sac? These are all things you should consider when creating a listing.
If you are interested in learning more about property management Park City Utah, download our free white page "5 Questions Every Landlord Should Ask Themselves".
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Going green with your personal or rental property is something that many people are interested in but perhaps don't have an idea of where to begin. I recently posted an article highlighting one of the easiest ways: LEDs - A Bright Idea For Park City Property Management. Today I would like to give some more broad information and tips on on how to make your property more green, starting with simple things and moving on to more complex methods and practices.
Slow The Flow
Using low-flow toilets, faucets and aerators is a great way to reduce water consumption in a property. Some people dislike this method of saving but over the course of a year many gallons of water are saved by their use. As these fixtures also regulate the amount of hot water used there is also a savings on your heating bill. In a case study on the use of low-flow fixtures LaGuardia Airport in New York installed low-flow faucets and aerators, toilets, urinals, and shower heads as part of a water conservation program. The total cost for the fixtures was $89,745. Through these simple measures they were able to recoup all of their costs for installation, through a savings on their water bill, in only 8 months. If you would llike to read more on the case study at LaGuardia you can click here. Water, particularly in the arid western states, is a very important commodity. By taking small steps like using low-flow fixtures, cutting back on water waste, and being generally conservation-minded we will all save a little money and a lot of water. The potential impact would be huge for Utah property management.
Insulating and Air Sealing
Insulation is a very affordable and easy to install method for saving energy. Any building should have what experts call a tight envelope. The idea is to keep air flow between the inside and outside to a minimum. Adding additional insulation to the attic not only keeps warm 
or cold air in your property but will also help keep the cold winter wind and the hot summer sun from effecting the inside of the property. Adding insulation to the inside of walls can be difficult but there are options including blown in insulation that can facilitate this type of retrofit. Another way to reduce air loss to the outside is be doing a pressure test. This typically involves an expert with special equipment locating areas in your house or condo where you are experiencing air loss. Typical areas of air loss include along base boards and windows, recessed lighting, outlets and plumbing penetration. These areas can be sealed by using caulk, foam, or gaskets depending upon the area being sealed. Having a tight building envelope can reduce heating a cooling costs, which translate into more dollars saved and less energy wasted.
Solar, Energy Star, HVAC, And More
Solar energy is something I am particularly passionate about. I have spoken with many friends and neighbors who are either considering of have installed solar systems. I've had a solar contractor out to assess my home, and I hope to have solar panels installed in the near future. Solar panels are installed with a goal of having a net zero electricity usage in a calendar year. During the summer months excess electricity is fed back into the power grid and you receive a credit on your electric bill. During winter months you are able to use up that credit arriving at a net cost of zero. There are specific formulas that solar contractors use to determine your energy usage and the number of cells necessary to meet this goal. Most systems are scalable as well. Energy Star appliances are another way to save money in the long run. These appliances will have a yellow sticker detailing the estimated cost to run an appliance over a year, usually a good savings over less efficient appliances. There are also 95% efficient furnaces, tankless hot water heaters, geothermal hot water systems, and triple pane windows, all of which reduce energy consumption and increase efficiency. Many of these systems are also available to receive government incentives. Check with your local utility company, government agency, or licensed contractor for more information.
If you are interested in learning more about property management Park City Utah, download our free white page "5 Questions Every Landlord Should Ask Themselves".
In perhaps one form or another I have previously talked about different types of tenants. It can be difficult to search through several articles to piece together this information so I thought it would be good to write on article about the four different types of tenants in Park City property management.
1. Estate For Years
When people think of tenants they are most likely thinking of the first type of tenant, known as "estate for years". Far and away the most common type of agreement involving real property, estate for years is a leasehold agreement on a property with a specific beginning and end date. The most common estate for years is a one year lease on a property but there is actually no requirement for the term to even be a year. The criteria are simply a beginning and end date. Leases may vary but estate for years does not require a notice to terminate as the lease already has an end date. Whether for a month, year, or many years, estate for years covers the majority of tenants and landlords in Park City property management.
2. Periodic Tenancy
Periodic tenancy is often referred to by the type of period it is based on, month-to-month being a common example. In periodic tenancy the lease continues from one term to another automatically, whether week-to-week, month-to-month, or year-to-year. The lease will continue to renew indefinitely until one party terminates it at the end of the specified period. Many estate for years leases revert to a periodic tenancy at the end of the term, an example being a year lease that becomes month-to-month after the year has ended. In a month-to-month tenancy the lease may only be terminated at the end of the month. Many leases spell out the type of valid notice of termination that must be provided, along with a required number of days prior to termination that the notice must be provided. Many leases will require 30 day notice of termination. If the termination is unspecified Utah property management law requires a 15 day notice.
3. Tenancy At Will
Tenancy at will is, as it sounds, an at will agreement between two parties involving real property. There is no specified term, period, duration, or termination requirements. In tenancy at will the lease can be ended at any time, be either party, with or without the agreement of both parties. Generally there is not a written document in a tenancy at will situation, as a written document or lease will generally spell out terms that would classify a tenant as either estate at years or periodic tenancy. An example of this would be allowing your younger sibling to live on the basement of your home. The sibling is a tenant at will, there is not specified term (perhaps to the consternation of your spouse), and the tenancy can be terminated at any time without notice by your sibling moving out or you spouse letting you know, in probably more colorful language, that they have had enough.
4. Tenancy At Sufferance
Tenancy at sufferance is a very limited type of tenancy that only occurs in specific instances. It could really be considered a transitional phase. Tenancy at sufferance exists when a tenant is "held over". A hold over tenant occurs when the lease has ended and a renewal has either not yet been offered by the landlord, or the landlord is unwilling to renew. The tenant is still remaining in the property and is thus a tenant at sufferance. At this point the landlord will either offer a renewal of the lease agreement to the tenant or proceed with an eviction of an unwanted tenant.
If you are interested in learning more about property management Park City Utah, download our free white page "5 Questions Every Landlord Should Ask Themselves".
The question of accepting pets in a rental often comes up in Park City property management. When talking about pets we are most commonly referring to dogs or cats. It's pretty infrequent that a goldfish would cause a substantial noise disturbance with neighbors and I have yet to have a tenant ask about making accomodations for their horse. In almost all scenarios a small animal is of little consequence and many HOAs and communities have specific rules regarding larger animals. I would like to take a look at some of the pros, cons, and considerations when deciding to rent a property as pet friendly.
The Pros
It really comes down to two basic points; money and marketability. In Park City property management there are two standard ways in which a pet friendly rental can generate more income, pet rent and non-refundable pet deposits. Pet rent may sound a little funny, as if we are asking Fido to get a job and pay his fair share. What the increased cost is based in is the idea of greater wear and tear on a property. If you would like a little more information on wear and tear, please check out my blog post Damage Or Wear And Tear? - Property Management Park City Info. Pets in general will add to the wear and tear a property sees over the course of a lease and should be accounted for with increased rent. In my experience $25/month is an appropriate amount for Park City property management however you should use your best judgement. Also you should consider an additional deposit for a pet and designate a portion of this deposit as non-refundable. The idea again is to cover for the added normal wear and tear a property sees.
The Cons
Not all pets, and definitely pet owners, are created equal. Some pets are more well behaved and some pet owners are more responsible. One animal that answers the call of nature wherever and whenever they want can very easily ruin the carpet of a property beyond repair. Make sure to ask potential tenants if their pet is house broken, how long they have had the pet, and if someone is home during the day to supervise the animal. Checking rental history can be an invaluable tool in determining whether the pet is fit for occupying your property. A deposit significant enough for a tenant to want it back is also an appropraite deterrent. Be reasonable but not excessive. If you find yourself asking too much for a deposit then perhaps the pet is not right for your property or perhaps renting to pets in general is not right for you. Even meeting the pet can help clue a property owner in to the animal's demeanor. While not fool proof these steps will give you the best change of making the right decision.
Considerations
Is your rental property part of a home owners association? If so there are probably specific rules regarding petss. Some HOAs have restrictions on size and breed of dog, almost all will have restrictions on the number of pets and some will not allow pets at all. I have unfortunately had a family approach me who, after moving into a property their landlord said was pet friendly, received notice from the property management company that they were in violation of the community rules and could not have a dog. If there are community or local ordinances that apply to pets make sure your tenant is notified of the rules. If the community your rental property is a part of does not allow pets then don't market the property differently. Another thing to consider is services animals. An animal that is legally registered as a service animal is effectively not considered a pet. You cannot charge pet rent, take a pet deposit, and if community rules prohibit pets they do not apply to service animals.
If you are interested in learning more about property management Park City Utah, download our free white page "5 Questions Every Landlord Should Ask Themselves".