Did you know that nearly half of rental properties are pet-friendly? However, only nine percent of rental properties allow pets without some sort of limitation on the pets.
There are plenty of reasons to allow pets in a rental property. On the other hand, there are also plenty of reasons not to allow pets.
If you're struggling to make up your mind, then this is the article for you. We'll outline the pros and cons of allowing rental property tenants with pets. Once you're done reading, you can decide what to do.
Pros of Pets in a Rental Property
One of the biggest benefits of allowing pets is that it gives you a larger pool of rental property tenants to consider. Pet-friendly rentals can be difficult to find, which means there's almost always a tenant who will be eager to get your property.
Pet owners will be less likely to move quickly, leading to a longer tenancy. This is because of how hard it can be to find pet-friendly housing. Allowing pets will gain you loyal tenants you can rely on.
Pet owners are also more responsible than the average person. This means that you might end up with less rental property management than you would otherwise.
In addition, you can charge slightly higher rent on a pet-friendly rental property. Most landlords also charge a pet deposit, which goes specifically toward damages caused by the pet.
Finally, some people will try to sneak pets in anyways. Allowing pets just means you have an honest dynamic with your tenant.
Cons of Pets in a Rental Property
The biggest drawback of allowing pets is that some pets are destructive, which means you'll experience higher rental property damages. There's also more rental property maintenance that goes into a building that allows pets.
You may get upset neighbors who don't want to live near the chaos of a pet. If you own those properties, that could potentially lead to a loss in tenants.
In addition, the rental property rules will also need to be more stringent on a property with pets. This puts more work on you. However, you could avert this specific risk by getting rental property management services.
Pets carry a specific odor on them that their owners may be nose-blind to. When the tenants move out, the pet odors might remain behind. As a result, you may need to pay more to have the property cleaned.
In the end, only you can decide if allowing pets is worth the risk.
Let Us Help You
Now that you know whether or not to allow pets in a rental property, do you have any other questions or concerns? Do you need rental property management?
If the answer to either of these questions is "yes", then reach out to us! At PMI Palms, we offer a wide variety of services and pride ourselves on the quality of that service.
Let us give you the help that you deserve. Reach out to us today to see if rental property management is right for you!