Skip to content
Link copied to clipboard

No pets allowed

I have several rental properties, and lately I've been spending a ton of money remodeling them because I allow pets. Do you think I should begin refusing tenants with pets?

Dear Dave,

I have several rental properties, and lately I've been spending a ton of money remodeling them because I allow pets. Do you think I should begin refusing tenants with pets?

-Jim

Dear Jim,

This is a tough one for me, because I have three dogs of my own. I've got a pug that's older than dirt, a shih tzu with an attitude and the best golden retriever on the planet. I love animals, and like you, I've got a lot of rental properties. But I don't allow animals in my properties.

Some people have accused me of hating all animals except my own. I can tell you that's not true. But the fact is a lot of people don't take good care of their animals and keep an eye on them. It's hard enough to find trustworthy, responsible renterste these days, and if you add a dog or cat on top of that you're just asking for trouble. I've had situations in the past where I had to spend $10,000 to clean up a house after a tenant had a dog or cat in there. They'll chew things up, stain and stink things up, and tear things up. Sometimes you even have to replace the floorboards!

I had a lady offer me $10,000 deposit the other day on one of my properties, just so she could move in with her dog. I said no. It's in all my leases now - no animals. I don't allow them in at the beginning, and if one of my tenants gets one after they move in they either have to find a new home for the animal or move out themselves. At that point they're in violation of the lease.

The problem is I really do have a heart for animals. I love them. But as a landlord who's running a business, it just doesn't make sense.

-Dave

Dave Ramsey is America's trusted voice on money and business. He's authored four New York Times best-selling books: Financial Peace, More Than Enough, The Total Money Makeover and EntreLeadership. His newest book, written with his daughter Rachel Cruze, is titled Smart Money Smart Kids and is out now. The Dave Ramsey Show is heard by more than 6 million listeners each week on more than 500 radio stations. Follow Dave on Twitter at @DaveRamsey and on the web at daveramsey.com.