Over 63 million households include at least one pet. As many of those households are renters, it's likely that you, as a landlord, will encounter some of them. Will you allow pets in a rental property?
It's a tough decision, and people tend to feel strongly about their stance. We're here to help you come to your own conclusions by presenting the pros and cons of your decision. Read on to learn more.
Pros of Allowing Pets in a Rental Property
So why should landlords consider allowing some four-legged, furry, scaled, or feathered friends to live on their properties? There are a few reasons.
As we mentioned, so many people have pets. As a result, allowing pets can expand the pool of potential tenants since many people seek pet-friendly housing. This can help landlords find tenants quickly and reduce expensive vacancies.
On that note, pet owners often stay in a rental property for a longer time because finding pet-friendly housing can be tough. This can reduce turnover and improve tenant retention.
Similarly, pet owners are often more responsible and attentive to the upkeep of the rental property. They understand the importance of maintaining a clean and safe environment for their pets, and they know that they're being held to a higher standard than renters without pets.
Landlords can often charge higher rent or pet fees (depending on local laws) to tenants with pets. This can provide an income boost and offset any potential damage that pets may cause. Pet damage is a real risk, but pet fees help.
Cons of Allowing Pets in a Rental Property
So why wouldn't a landlord want to allow pets? There are some valid reasons.
Pets can cause damage to rental properties. They can start scratching floors, chewing furniture, or even ruining carpets with messes or flea infestations. Property maintenance after the tenants leave can be expensive and time-consuming.
Even clean pets with responsible owners can leave behind allergens and odors that may be difficult to clear up. This can be a problem for future tenants, especially those with allergies or sensitivities. These tenants often seek out pet-free housing.
In rare cases, allowing pets may increase insurance premiums for landlords. It can also expose them to liability if a pet injures someone on the property. Some insurance policies may also have restrictions or exclusions related to certain types of pets, like certain breeds of dogs in rental properties.
Will You Allow Pets in Your Rental Property?
The decision to have pets in a rental property is up to you as the landlord. There are pros and cons, so you have to decide what makes the most sense for your investment.
Will you welcome pet lovers or send them elsewhere?
If you're a landlord in San Diego County, you have a lot of tough decisions to make. Why not let a property manager help? At McLain Properties, our team is ready to help you with everything from setting rental policies to dealing with marketing and evictions.
Learn more about our customizable property management services and reach out today.
