With two out of every three families owning a pet, opening up your rental property to pet owners can help your space stand out from the crowd and ensure your unit won’t be empty for long. So read through this article to discover the many benefits associated with making your rental property pet friendly and incorporating amenities that allow tenants to keep their favorite animal companions.
Rental property owners can enjoy a larger tenant pool and fewer vacancy times for a steady rental income all year round. Allowing pets in your rental property means trusting your tenants’ level of responsibility and accommodating their lifestyles rather than limiting them. This can also reduce the chances of strained relationships between renters and landlords, so they are less likely to shift to a new residence. Not having to frequently look for new tenants can take the stress off from landlords, too.
Safety & Emotional Support
Pets can be a great companion and help in reducing stress for people of all ages. These furry friends can provide additional protection as trained dogs know when their owners are in danger and can react quickly to trespassers, especially at night or when no one is at home. On the other hand, having cats around can also help in driving away destructive rodents that find their way into the complex. Furthermore, as stated in the equal housing rules, rental property owners cannot restrict someone with a disability and need Emotional Service Animals (ESAs) to help them.
By allowing pets, you can have more control over what goes on at your property and avoid potentially dangerous situations when tenants try to smuggle pets in under the radar. Although bringing in a tenant with a dog or a cat may put your property at risk of damage, there are many ways to protect your investment property, your tenant, and yourself in case an issue occurs.
To ensure a happy and safe environment for all tenants, it is important to exercise good communication and set up rules that cover all your bases in your lease. You could include limitations like pet size, the number of pets allowed, and discuss how clean the yard must be kept. It is also wise to screen pets by asking for their vet records and if the pets are up-to-date on their vaccination to ensure that everything stays under control before allowing a pet owner to live in your property.