For years, he was my only companion. I raised him from a puppy, and there’s no world in which I’d leave him behind. Wherever I go, he goes. So if I were looking for a rental, it would have to be pet-friendly — no exceptions.
He’s smart and well-trained, but he’s still a dog. That means the occasional mess or scratch is inevitable. As a responsible pet owner, I fully expect to be held accountable for any damage he causes. But helping property owners understand that — even the ones who love animals — can be a challenge.
Not every owner is comfortable with pets in their properties. That’s why it’s our job as property managers to bridge the gap: to explain the upside, acknowledge the risks, and put smart policies in place that protect their investment while meeting today’s renter expectations.
🐾 The upside of being pet-friendly
Pet-friendly properties attract a larger pool of applicants, often lease faster, and can generate extra income through pet rent or fees. Plus, pet owners tend to stay longer since it’s harder to find rentals that welcome their four-legged family members.
🐾 The downsides to consider
Pets can bring added risk—property damage, noise, and allergy concerns are common. There's also potential liability, especially with certain breeds, making strong policies and proper screening a must.
🐾 Fees, rent, or deposits—what’s best?
When it comes to structuring pet-related charges, there’s no one-size-fits-all answer—but there are a few common approaches:
- Pet rent is a monthly charge added to the resident’s rent. It provides consistent, recurring income that can help offset wear and tear over time. This option is increasingly popular and can add up to hundreds—or even thousands—of dollars in additional revenue annually.
- Pet fees are one-time, non-refundable charges collected upfront. These are often positioned as an access fee for having a pet on the property and can be used to help cover potential cleaning or minor damage expenses.
- Pet deposits are refundable amounts held to cover any pet-related damage at move-out. While this option provides a layer of financial protection, it doesn’t create ongoing revenue—and it requires clear documentation for any deductions.
Each of these structures has pros and cons, and in some cases, a combination of them is the best approach. For example, many property managers choose to charge a non-refundable pet fee and monthly pet rent, offering both upfront protection and ongoing income.
We’ve seen well-structured pet policies generate thousands of dollars in additional revenue across rental portfolios—without creating extra hassle, as long as expectations are clear and enforcement is consistent.
The key is balancing risk and reward—making sure property owners are protected, while staying competitive in a market where pet-friendliness can be a major draw for high-quality residents.
🐾 What we do at Milestone
At Milestone, we adopted the popular Pet Damage Guarantee (PDG) about two years ago—and it completely changed the way we manage pets across our portfolio.
Before that, I’ll be the first to admit—we were driving ourselves crazy trying to accommodate every individual owner’s preference. When you’re just getting started, it’s manageable. But over time, juggling multiple pet policies across hundreds of properties simply isn’t scalable.
That’s when I attended a class at MetroTex here in the Dallas area where Todd O. spoke about the Pet Damage Guarantee program (Hey, Todd!). I was instantly intrigued. It sounded like a true triple win—for the owner, the resident, and the property management company.
Here’s how it works:
If an owner opts into the PDG program—and about 98% of ours do—we provide up to $1,500 in pet-related damage protection beyond the resident’s security deposit. So if pet damage exceeds the deposit, like needing to replace carpet, we cover the difference.
In exchange, our company retains the pet rent associated with the lease. We charge a flat $55 per pet, per month—no extra fees or deposits. The benefit to the resident is that we accept all breeds and weights, as long as the pet is screened and approved through our pet screening process. We use the pet verification tool built into Findigs (our application processor), and we also maintain an account with PetScreening.com for any screening needs outside the original application process.
The result? Owners get peace of mind, residents get more flexibility, and we’ve eliminated the chaos of trying to enforce dozens of different pet policies. And yes—our company does generate revenue through pet rent, but I want to be clear: I would never structure something around revenue if I didn’t believe it was a true benefit. After doing the research, I’m confident this is a win for everyone involved.
Of course, we still give owners options. When onboarding a new property, we present three pet policy options:
- Pet Damage Guarantee (PDG) – Our recommended and most popular plan. We accept all breeds and weights, manage pet rent, and offer owners up to $1,500 in pet damage protection.
- Standard Pet Policy – For owners who prefer restrictions, we offer a limited pet policy: a $400 non-refundable pet fee (which the owner keeps), a two-pet maximum, and a weight limit of 45 lbs. This cuts out most large breeds while still keeping the property pet-friendly.
- No-Pet Policy – While we don’t recommend this, we will honor an owner’s request for a strict no-pet policy if there are insurance or warranty restrictions—or if they’re adamant about it.
By presenting these options upfront, we empower our owners to choose what fits best while making it easy for our team to stay consistent and efficient behind the scenes. No more one-off exceptions, no more policy confusion—and most importantly, everyone wins.
Final thoughts
If you’re considering restructuring your pet policy, I highly recommend offering a few clear pet options for owners instead of letting each owner create their own individual policy. This approach helps maintain consistency and scalability, while still respecting owner preferences.
If you decide to implement the Pet Damage Guarantee program, be sure to have your language carefully reviewed by an attorney—and never use the word “insurance” in your communications. It’s important to implement programs like this because of the genuine benefit they provide, not solely because you expect to generate revenue. In my experience, no one can successfully sell a program they don’t truly believe in.
And finally—remember, furry friends are family. If you have one, you know exactly what I mean.
.png?upscale=true&width=1200&upscale=true&name=email%20footer%20(1920%20x%20600%20px).png)
.png?upscale=true&width=1200&upscale=true&name=email%20footer%20(1).png)