''Cute furry creatures are in. Did you know about 70% of Americans have at least one pet? Having permission to bring pets into a rental is important to renters who seek housing.
Pet-friendly rentals can be a good thing as it opens the door for applicants who accept living in your apartment. As loveable as these furry creatures are, property owners may also wonder if it's a smart move. Keep reading to find out if you should allow pets as part of the rental agreement.
Cons of Pet-Friendly Rentals
As with every business, renting out your property won't always result in profit. There is always some risk. One of these risks involves the decision to allow pets. If there are pets, especially dogs, your rental property may get damaged due to scratches and chewing.
There may also be a problem with bad odor due to urine and feces. The strong smells may require professional cleaning to clear. Another issue is the potential destruction of the landscape if your rental is on land.
Owners who do not know how to train their pets are more likely to cause these problems. Liability is another issue in the event of animal biting.
Sometimes the problem is that pets disturb neighbors who dislike the loud noises pets make and potential invasion on their property. When you offer a pet-friendly apartment, you should create specific rules and an agreement to help you reduce the chance of these cons occurring.
Benefits of Pet-Friendly Rentals
There are several good reasons why you may one to allow pets. A major factor is the larger applicant pool you create.
Most pet owners make better tenants because they are more financially stable, making at least $50,000 a year. Verifying this income is important. Decent income makes the difference between on-time payments or late payments. The last thing you want to deal with is having to deal with eviction.
Pet owners tend to remain in the rental longer too. This is because they may have a tough time locating rentals that allow pets.
The choice of allowing pets make property owners more competitive. You will lower the need to start over and find new tenants. Tenants who get to live with their pets are happier and can make the rental feel like their home.
You have the ability to charge more for rent as well. Many renters will accept paying the higher fee, especially in areas that may not allow pets.
You will decrease the chances a rent will sneak animals into the place without permission. Allowing pets and making money by permitting it works in your favor.
Offering Pet-Friendly Rentals: The Choice Is Yours
Pet-friendly rentals are profitable for property owners who rent their place as it allows more applicants. It also allows current renters to stay in the home if they wish to get a pet in the future.
Pets are only as destructive as their owners allow them to be. Rather than being focusing your concern on a pet, landlords should be more stringent in choosing who lives on their property.
You increase the chances of finding qualified tenants by hiring a qualified property manager. Contact us for a consultation.
