According to the Humane Society of the United States there are 78 million owned dogs and 86 million cats in this country. We are a nation that loves animals and billions are spent each year on their care, feeding and entertainment. So as a landlord should you consider allowing pets into your rental property?
The downside can be imagined quite easily; barking, biting, peeing, smelling, damaged carpet, walls or holes in the yard. Fur in the ductwork, chewed furniture and even bitten neighbors.
The reality is actually quite different. According to the Foundation for Interdisciplinary Research and Education Promoting Animal Welfare (FIREPAW), the average pet-friendly rental doesn’t cause anymore damage than normal. Repairs after vacating are normally less than pet deposits and a survey conducted by FIREPAW in 2003 found that, on average, pet friendly apartments made more money per year than those that did not.
Some positives about renting to Fido’s family:
Allowing pets onto your rental property allows a great number of tenants to choose from. You can be more selective with more applicants in your rental pool.
You can raise the rent as you have now increased competition for your property. Especially in the private home rental business. Those property are often sought after by families with pets who want a superior property.
Rental management companies can spend less money on advertising as the outlets catering to pet owners often offer free space to market. Upscale businesses that cater to pet owners such day-care, pet boutiques and pet supply stores have bulletin boards just waiting to be read by pet owners.
One of the problems facing property managers are frequent vacancies. Because of the lack of pet-friendly property pet owners are more likely to renew their leases rather than try and find another accommodating property.
Pet owners have been shown to have a higher level of empathy, lower stress levels and are more compassionate. They can make for the ideal tenant for your upscale property. With rules for occupancy firmly set and agreed upon they can present no more of an issue than those without pets.
National Property Management Group is the management company of choice for homeowners who need to rent their property. We specialize in private home management and know just the sort of tenant you would want to live in your home. So call us today!