News & Blog
Are You a Pet Friendly Landlord?August 22, 2018
Each of us makes our own decision to allow pets or not. Often we bump into horror stories about pets destroying apartments, scratching the carpet or chewing the wood, attacking neighbors and etc. Sure after such realities it is hard to accept animals, but each landlord or property owner must understand that tenants with animals can be a real asset.
Well an interesting fact is that finding an apartment or even a house to rent that accepts pets can be very difficult. It also depends in what part of the country you live, because often it could take weeks or even months to find an affordable pet friendly rental. In some regions there are more tenants with animals (or tenants who plan to get an animal) than there are affordable rental units. That means the competition can be stiff. So, why not use it for your benefit?
When thinking of becoming a pet-friendly, here are some things you might want to know before making a decision:
As we mentioned before, almost 60%of renters have a pet and the number is growing fast. Allowing pets in your rental will bring you more potential tenants.
Usually tenants with animals stay in a rental longer because their pets get used to places. Another thing is that it can be harder for them to find other pet friendly options. So it is more likely tenants with pets would choose staying in your rental rather than moving from place to place.
If you allow pets with approvals (pet deposits, higher rent, etc.), it will save you from tenants trying to sneak in pets without your permission. And that will assist in protecting your apartment from unwanted consequences like property damage or unexpected smell.
Pets can also protect your tenant and property. Many rentals end up with unwanted animals like mice, rats, squirrels and bugs, which can lead to large costs in pest control or even wood and insulation damage. Pets can assist in keeping these varmints away, while also providing protection for the tenant from unwanted strangers.
If you decide to allow pets in your rental, you can charge slightly higher rent. But before doing this, you should look at comparables in your area. The fewer pet friendly rentals around - the higher the rent. Pet owners are ready to pay a bit more for their furry friends as long as you provide good conditions for “all of them”.
Before allowing pets, you still need to do the same due diligence as you would the tenant. Call the previous landlord and find out how the pet treated their rental. Talk to the applicant and see if they are mature enough to take good care of an animal. See if the pet has gone to any schooling and home friendly trainings.
And last, but not the least, it's a general fact that animals can help reduce stress, ease loneliness, bring love and happiness. When there's a pet around, it makes your property feel more like a home for the tenant, which leads to There are many people who love their pets as their children. And it is really important for them to get understanding. So why not be a super Landlord?
There are many reasons not to allow pets, but many reasons why you should consider it as well. In any case you must find what is best for your rental. Don't forget to adhere to the Fair Housing Laws and to use the same policies for all tenants (avoid being accused of discrimination). But when deciding, don't forget to weigh all pros and cons.
And remember, tenants with animals can be a real asset. The choice is up to you :)