As a landlord or property owner, you may feel a little torn when considering whether or not to allow pets into your rental property. On one hand, making your property a pet-friendly place can lead to damage and destruction that is expensive to repair. However, on the other hand, you will probably be able to implement higher rent prices and your tenants will most likely stay longer if they know that they can have their pets with them in your property. Here are some pros and cons to consider when it comes to allowing your tenants to have pets.
PRO – Increase Your Pool of Applicants
Landlords are always hoping for responsible and reliable tenants when trying to fill a vacancy. In order to attempt to garner these types of tenants it is important to look into an applicant’s rental background, employment status, and credit history. This is a great way to know if an applicant will respect the rental property and pay their rent on time. Unfortunately, you may not get the best applicants every time and may be forced to rent to a less-than-ideal tenant in order to fill the vacancy quickly.
By making your rental a pet-friendly property, you can cast a much wider net with your pool of potential applicants. Many pet owners are actively looking for a place to live and will jump at the chance to rent a property which will welcome their beloved companions. Landlords might find that a pet owner may be more qualified than most applicants, thus leading to an opportunity to rent to a better tenant by utilizing this route.
PRO – Landlords Can Ask For Higher Rent Prices
Because fewer properties allow tenants to have pets, particularly large dogs, you are offering a unique perk to potential applicants whom have pets. Renters will be willing to pay a higher rent cost to be able to keep their pets with them, rather than having to give them up at a lower-priced property. By offering this option to potential applicants, landlords can set themselves apart from other properties in the neighborhood. Additionally, it is common practice for landlords to require a non-refundable pet deposit that will cover any damage a pet may contribute to the rental property. In most cases, pet owners understand why this fee is required and are happy to pay the deposit without question.
PRO – Tenants Will Stay Longer
Once tenants find a great property that welcomes their pets without any issues, they are much more likely to stay at that property. Rather than trying to find another place that will accommodate their pets, they will choose to renew their lease over having to endure the hassle of finding another rental property that is as accommodating. This is the perfect scenario for landlords as they get to keep good tenants for longer periods of time, instead of having to advertise and fill the vacancy after each lease has expired.
CON – Possible Property Damage
Not all pets are calm and well trained. Some are definitely more well-behaved and trained than others. Along with cats and dogs comes the potential for damage to the rental property. Many landlords have been left with expensive repairs or damage that lowers the value of their rental property because pet owners failed to control their pets. Most commonly, you may see chewing, scratching, and/or destruction of the property’s landscaping. Pets may also urinate on carpets, doors, or other structures in and around the property causing strong odors that are hard to get rid of. This is most often the biggest concern for landlords when considering whether or not to allow pets in their rental properties.
CON – Pets Can Create a Noisy Environment
Another thing landlords and property owners should carefully consider is the noise aspect of allowing pets. Depending on the breed, dogs can be very loud and bark for hours if they feel threatened or have separation anxiety. In addition, if you have many different pets on the property, there could be multiple scuffles or disruptive behavior over territory issues. Having to deal with noise complaints and unhappy tenants can add a lot of stress and time to the already difficult responsibilities of being a landlord.
CON – Aggressive Pets Can Cause Injuries
When pets become aggressive, there is always the chance they may cause injuries to other pets or tenants. Dog bites can be serious, especially if the dog attacks a child or elderly person. If pets are not watched closely or become loose without the owner’s knowledge, it can be dangerous for others on the property. It can also mean injuries to other pets who are not aggressive but have an unfortunate encounter with the aggressive animal. Even if you are not responsible for the accident, landlords may have to face legal issues when an injury occurs on their rental property.
How a Property Manager Can Help With Pets
When considering whether or not to allow tenants to have pets on a rental property, there are several things landlords should consider. Weighing the pros and cons can help determine whether it’s worth it in the end. However, if you do decide you would like to open your rental property to pet owners, hiring a professional property management company can greatly help.
Black & Cherry Real Estate Group & Property Management can assist landlords with all of their Henderson and Las Vegas property management needs by thoroughly screening tenants before they are approved and moved into a property. If the applicant is a pet owner, this could involve contacting previous landlords or speaking with multiple references to confirm that they will be a good fit. The Black & Cherry property management team will also help to implement strict rules when it comes to allowing pets in a rental property in order to avoid many of the previously mentioned issues. If you’d like to learn more about how Black & Cherry can help manage your rental property, contact our team today!
