Over 70 percent of US households are pet owners. That's more than 90 million families, including a lot of potential renters.
But many landlords are unsure whether they should allow pets in a rental property. While allowing renters to have pets can help you rent out your properties, there are downsides too.
If you're looking for more information to help you make a decision, you're in the right place. We've put together this article full of landlord tips to help you decide whether or not to allow pets.
Think About Potential Damage
Even the politest of animals in a rental property is likely to pose at least some threat of damaging your property. Cats and dogs might have an accident, going potty on the floor instead of outside or in their litterbox. Or they might scratch up your floor, damage your carpet, or wreak havoc on your furniture.
If you are considering allowing tenants to have pets on your property, conduct a thorough assessment of potential damage they could cause. You should add a pet deposit to cover any potential costs caused by issues with a pet.
Consider Other Tenants
Although there are lots of different ways pets can damage your property, there isn't a huge amount they can do which isn't easily covered by the pet deposit. That is, unless you're furnishing your property with Ming vases, or renting out to a tenant with a pet rhinoceros!
Your main concern should be the impact any pets might have on other tenants. If you're renting out an individual house, you probably don't have much to worry about. If you're renting out a block of apartments, other tenants in the building might not be too happy with lots of animals suddenly coming into the building.
If you do choose to allow pets, think carefully about the types of pets coming into the building. Support animals or well-behaved dogs or cats are unlikely to present a problem. Animals that bark or howl throughout the night might cause an issue and generate complaints.
Advantages Of Pets In A Rental Property
Although there are a few potential downsides to allowing pets into a rental property, there are also plenty of advantages. There are lots of tenants looking for places to live with their pets, and by allowing them to bring their furry friends along, you're suddenly making your property a whole lot more desirable. You could even increase the rent on your property.
And since many tenants struggle to find another suitable place that will allow them to bring their pets, they're more likely to stay put for longer periods of time. You'll save money on the usual cleaning, searching for new tenants, and leaving the property unoccupied.
Take It Case By Case
There's a lot to take into account when it comes to pets in a rental property. It's a good idea to take the question of pets case by case, considering the pros and cons for each specific property, tenant, and their pets.
Are you looking for an experienced property management company to help take the stress out of being a landlord? Contact Re/Max Haven Realty Property Management today to see how we can help!