In America, 46% of pet owners say that they spend more or the same on their animals than children. So, it’s no surprise that rental property management services are flooded with tenants with pets. Finding tenants is hard enough when new properties are popping up in different neighborhoods without the added requirement of pet-friendly living spaces.
Pets can bring more people to your rental property but can also make it challenging to keep a space clean. Depending on the investment property, it’s good to consider the pros and cons of allowing pets on the premises. That way, you can make an informed decision and have peace of mind.
So, is it a good idea to let your property to tenants with pets?
Pros of Tenants With Pets
Following rental property management advice, it can be beneficial to allow tenants with pets as there are more options. For example, many applicants don’t apply to live in a place where pets are specifically not allowed. This leaves landlords with vacant properties and fewer high-quality tenants.
Another reason to consider tenants with pets is that they are more likely to want to rent for a long-term contract. Allowing pets could be a good decision if you’re struggling with temporary tenants and want to find a sustainable applicant. Plus, renters are willing to pay more to live somewhere that’s pet-friendly.
If you hire a rental property management team, they can ask tenants the right questions about covering potential damage. These services can also handle the payment schedule to ensure the property is not damaged.
It’s also important to remember that some pets are small, like hamsters or fish, so they live in a cage the whole time and don’t cause harm to the physical property. That’s why you should always clarify what type of pet will be living in the home, such as a cat or dog, so that you can assess the risk.
Potential Downsides to Allowing Pets
The most obvious problem with allowing pets on your property is that they can seriously damage the infrastructure. If you have carpet flooring, pets can leave permanent stains that need removal. Animals are also known to bite on wood and scratch at wallpaper.
Landlords could have to replace entire interior design and layout sections if a pet damages the surfaces. So, you must ensure tenants have the proper protection or pay more if they want to bring their pets.
Odor can also be a problem with pets and cause issues in apartment buildings, especially common areas. The odor can be maintained for individual homes as there are only one or two tenants. The choice will depend on the property size and how many occupants are involved.
You can find out about ways to solve odor problems from a property management company that can contact local cleaners to handle the mess.
Get Advice From a Rental Property Management Team
The good thing about working with a rental property management team is that they have experience with tenants and pets. If you’re concerned about allowing pets on your property, they can help you weigh up the advantages and disadvantages before making a final decision.
Our team is here to help you lease or sell properties so you can attract the ideal applicants.
Contact us on our website to organize a consultation, and we’ll tell you about our process.