Up to 68% of American households have some sort of a pet. If you are a landlord, deciding whether to allow pets in a rental property has some major ramifications.
Managing properties is all about balancing the needs of tenants with the preservation of your housing resources. Allowing pets can cause some problems, but in certain cases, it may be worth it.
If you are managing rentals, you should check out some of these tips for landlords when allowing pets. That way, you can answer the question "should landlords allow pets?" for your individual circumstances.
Pros of Allowing Pets in a Rental Property
There are a few benefits of allowing pets in a rental property you own. It is important to examine them to understand if a pet-friendly rental situation will benefit you.
Increase Tenant Interest
If you are having a hard time finding reliable tenants, you may want to consider allowing pets in your rentals. More than half of Americans own pets, so by banning them, you are cutting yourself off from half of your clients.
You Can Charge More
If you allow pets in your rentals, you can charge tenants additional money to pay for additional wear and tear. This can come in the form of a security deposit or increased monthly rates.
Tenant Happiness
75% of people identified as animal lovers in a recent Vox survey. If you want to make your tenants happy, allowing them to have an animal friend will do this. Happy tenants stay longer and care about your rental more.
By keeping your tenants happy, you may have a better rental situation. This can benefit you even if their pets cause a bit extra wear and tear. If you want to be a good landlord, you need to take into account tenant happiness.
Cons of Allowing Pets in a Rental Property
Pets are not always the best option for all rental properties. Depending on your situation, you should weigh the following cons of allowing pets in your rentals.
Pets Cause Additional Wear and Tear
Dogs and cats can cause scratches on walls, floors, and appliances. They may leave terrible odors in your rental as well. Most animals, even the best trained, will cause some additional wear and tear on your rental.
Pets Can Bring Infestations
Fleas are a common pet-related infestation that can decimate the health and well-being of your tenants. They can spread from one apartment to another and start feeding off your other tenants.
Fleas are only one example of a pet-related infestation. Make sure that if you allow pets, your tenants are clean and vigilant to avoid infestation problems.
Additional Noise
A barking dog can ruin the peace and tranquility of a once quiet neighborhood. One tenant with a poorly trained animal can ruin the well-being of all your other tenants and their neighbors.
Liability
Some animals are dangerous and unpredictable. If someone's animal attacks another individual on your property, you could be liable for allowing pets.
Make the Call About Pets
In a perfect world, pets in a rental property would be no big deal. Unfortunately, not all rental situations are best for pets. The type of rental and type of pet have a lot to do with what works best for you.
If you want some expert advice on property management or need help managing your properties, contact us today. We can make the call about allowing pets for you so you can get back to other important business.
