Americans are obsessed with many things, but pets have to be top of their list. A lot of folks treat their pets better than they treat themselves. That’s why it’s so important for property owners to think carefully about allowing pets in a rental property.
Yes, it might be a pain because you worry about the state of your property, with scratching, barking, and chaotic pets running about. But what if you could get better tenants because you opened up your property to pets?
Read on for the full list of pros and cons of making your rentals pet-friendly.
Pro: More Tenant Applications
Many people have pets nowadays, but a lot of rental properties don’t allow pets on the premises when tenant screening. This means that tenants with pets have fewer options available to them when renting.
If you can be one of those generous landlords who support animals on their properties, then you will have access to a larger pool of tenants, and that means you will be able to rent your properties easier and faster.
Pro: Happier Tenants
Your pet-friendly properties will also make your tenants very happy as they don’t have to compromise when it comes to their beloved pets.
This will reduce your tenant turnover rate and that means higher profits for your real estate investing business.
Pro: Can Charge a Higher Rent
Everyone knows that having pets on a property can result in damage to the curtains, furniture, floors, and other items. That’s why when you market your rentals as pet-friendly, you can charge a higher rent to compensate for the potential damage to your property.
Con: Damage to Property
The biggest con and the primary reason why rentals don’t allow pets on their property is due to the damage that pets cause to the various fixtures, walls, floors, and furniture. It’s a given since pets will scratch, claw, and bite at everything around them.
Even if the pet is well-behaved and trained well, there’s still the chance of damage to your property.
Con: Possibility of Noise and Disturbance
Another major con is that you might get unlucky and end up with tenants whose pets are noisy, barking all night long, and scaring all the kids in the neighborhood.
If that’s the case, all the neighbors of your rental property will feel disturbed and upset. It could result in repercussions against you as the landlord.
Pets in a Rental Property Need Proper Management
Even if you are open to allowing pets in a rental property, you might not be interested in managing such tenants and the headaches that accompany them. That’s why a full-service property management service like ours is the key.