Did you know that almost seven in 10 U.S. households own a pet and that most pets are dogs?
If you own a rental property and need tenants, one consideration is whether or not to accept families or individuals with pets. Many investment properties are firmly against allowing pets into their units because of the potential damage these animals can cause.
Dogs are the best pets you can have because of their affection and loyalty! As companions, they are perfect because they give social support to their owners along with a sense of companionship. If you are someone who suffers from depression, anxiety and stress, dogs are the perfect companion for you.
Therefore, if you are renting out units, you should allow dogs because it helps the renters along with others around them. There is a sense of overall happiness and well being surrounding dogs. Furthermore, the lives of the old individuals do improve as they are calmer along with becoming mindful!
It’s up to you to set the policy for your rental property. While there’s no right or wrong decision, here’s a look at five reasons to allow tenants to have dogs and other pets.
1. Attract a Bigger Pool of Candidates
If you ban pets from your rental property, many people will be excluded. As you can see, many households nationwide own pets. You can be sure that many renters have beloved family pets that they won’t give up. So, while you can ban pets if you wish, doing so means reducing the number of otherwise good candidates for your rental units.
There is also an advantage of allowing candidates to have dogs! Dogs are innately good natured animals hence, if anyone has some ill intent or is a bad person by nature, a dog will never relax around them. You can check the person’s intent with regards to security and a calmer approach!
Ask yourself this question: would you prefer to rent to a great applicant with a pet or a so-so applicant without a pet? Only you can answer that question.
2. Pet Owners Tend to Stick Around Longer
When looking for tenants, you’ll want tenants to renew their leases so that you continue to get monthly rental income. Lease renewals also mean you won’t have to advertise vacant units and start the tenant search process. That process can be time-consuming and expensive.
It’s worth noting that tenants with pets generally stick around longer than those without pets. One possible reason is that renters know that the pickings are slim for pet-friendly rental units. So, if they find a suitable location for them and their pets, they may stay longer.
As the social lives of pet owners are stable, there is a higher chance of them staying for a longer period. This will lead to you having a constant and regular amount of money every month as pet owners keep staying on!
3. Pet Owners May Be More Responsible
Another reason to rent to pet owners is that they tend to be more responsible. It’s not easy to find suitable accommodations for renters with pets, so pet owners may exercise a higher standard of care for the rental units they occupy. That’s a good reason to accept people with pets.
Considering there are less rental properties allowing pets, you will contribute to the tenant satisfaction along with becoming in demand. Your tenants will be satisfied as the pets are a part of the family along with preferring your rental units above others.
Even pet owners have choices especially when they see that their pets are not allowed, they prefer to avoid such places. So as landlords, you can receive committed and responsible tenants as there is a higher chance of having a friendly environment.
4. You Can Charge Higher Rents
Renting to people with pets will also allow you to make more money. You can charge higher rents and require higher security deposits. There’s no denying that rental units with pets require more maintenance than those without pets, especially for the flooring. But you can account for that by charging pet fees so that damage caused by pets gets fixed as required.
You can also charge higher because you are allowing pets! The tenants will be ready to give the money because they are more than happy to access a rental unit which allows them and their pets to stay together.
The range is somewhere between $200 to $500 when it comes to rental units which allows pets on Rent.com! So imagine the higher you can go with the rates that you can imply if you allow the pets.
5. You Can Gain a Good Reputation for Being Pet-Friendly
Considering that many landlords don’t want pets in their units, you can gain a positive reputation by being a pet-friendly landlord. Again, accepting pets means more quality tenants will want to move into units as they become available. You’ll also have peace of mind knowing that families requiring housing won’t have to choose between finding a rental unit and parting with their pets. That’s the sort of heart-rending decision that no family should ever have to make.
These are five reasons to consider allowing people with pets to rent your units. You’ll have a bigger pool of candidates to draw from, making it easier to find suitable tenants.
Disadvantages Of Allowing Pets In Rental Units!
There is a higher probability that you might see some damage to the property when it comes to rental properties! Allowing dogs can lead to them chewing furniture, damaging the doors, walls and scratching some floors which will lead to loss of money in maintenance and expensive repairs.
You might face noise complaints, it is quite normal for dogs to bark but a lot of people might complain along with facing potential conflicts. It is important to understand that there are several noise complaints at times when there are different types of renters.
This is what leads to enforcing policies which prevent disruptions as the barking might impact children, aged people and other people with health concerns. There are potential reasons for which pets are at times prevented to be allowed in the rental unit.
Conclusion
Keep in mind, as well, that you can get help with any maintenance and repairs that result from allowing pets into your units. In addition to charging more rent and requesting pet fees, you can work with a property manager to ensure your rental units remain in great shape. Whether you need Houston property management or property management anywhere else, it pays to explore how a third party can help with your investment property.
To sum it all up, there are pros and cons for having dogs in rental units! What is important here is to understand the significance and the appropriateness of potential liability along with enforcing policies that should not harm anyone!
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Aubrey Watson
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