RENT Magazine Q2 '24

According to JD Supra, “The prospect of AB 2216 requires landlords to potentially overhaul existing lease agreements and adapt day-to-day operational strategies to accommodate pets. Moreover, landlords will have to re-evaluate maintenance procedures to address increased wear and tear, adding to their operational burdens.” Landlords will also need to review their insurance coverage to determine whether they need to increase their liability coverage, which in turn could cause an increase in their premiums. Additional financial implications should the new bill become law include the cost of any necessary property modifications, higher maintenance expenses and possible legal costs to ensure compliance and to contest any new pet-related lawsuits. Should the Arizona bill pass, landlords would still be permitted to restrict tenants from owning dogs. Arizona Sen. J.D. Mesnard, in a statement to AZ Family, expressed concern that the bill could lead to more landlords banning dogs altogether in order to keep banning specific breeds. The Arizona Multihousing Association is opposed to the bill as written. Courtney Gilstrap LeVinus, CEO of the AMA, told Multifamily Dive that property owners often must restrict certain breeds because of limits in the building’s insurance coverage. “This may leave a community uninsured or with insurance coverage that is extremely expensive,” Gilstrap LeVinus said. CONSEQUENCES OF PROPOSED PET LAWS

LANDLORDS WILL ALSO NEED TO REVIEW THEIR INSURANCE COVERAGE TO DETERMINE WHETHER THEY NEED TO INCREASE THEIR LIABILITY COVERAGE.

NANCY ABRAMS Assistant Editor American Apartment Owners Association (866) 579-2262 nancy@aaoa.com

Nancy Abrams has enjoyed a long career in real estate marketing throughout Southern California and Las Vegas. She formerly represented 19 Merrill Lynch Realty branch offices, property managers The Roberts Companies, new home developers, including master planned communities Peccole Ranch and The Valencia Company and shopping centers for Sandy Sigel of NewMark Merrill.

Disclaimer : All content provided here-in is subject to AAOA’s Terms of Use. Nothing contained on this website constitutes tax, legal, insurance or investment advice, nor does it constitute a solicitation or an offer to buy or sell any security or other financial instrument. AAOA recommends you consult with a financial advisor, tax specialist, attorney or other specialist who is able to properly advise you.

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