Did you know that over 90 million families in the United States have pets? Animals are an excellent resource for family love, emotional support, and learning how to take care of a living thing.
However, sometimes it can be difficult to allow pets in a rental property. Have you ever wondered if it is worth dealing with pets in your rental property? Here are some of the pros and cons.
A Wider Applicant Pool
When you eliminate any pets with no exceptions, it may be difficult to find tenants for your property. Many households consider their pets to be members of the family, so they will go out of their way to find a pet-friendly rental unit.
By allowing pets, you will get many more applicants. The more applicants you have, the more competitively you can price your rental property. You can also be picky and look for other features to find the perfect tenants.
Extra Income
It is very common for property managers to charge an additional fee for pets. You can offer the option for pets with an initial pet deposit. This one-time payment is usually a couple of hundred dollars.
In addition, you can also charge your tenants pet rent. Even 50 dollars per pet, per month, can add up to quite a bit of additional income if they have several animal friends living with them.
Potential Property Damage
However, one downside to dealing with pets is that they could potentially cause problems for your property. Even if the tenants do not get their deposit back, issues such as pet waste, torn-up carpets, and wear and tear are common for irresponsible pet owners.
If there is a lot of damage from allowing pets, you may even have to postpone allowing new tenants to move in. Sometimes a steam cleaner is required to take care of messes on the carpet or you may need to eliminate unpleasant odors.
Allergies and Complaints
A good portion of the world is allergic to pets with fur, most commonly cats and dogs. When dealing with pets, you need to consider if you or other tenants have problems with allergies. If so, then it may not be a good idea to let pets move in.
Pets such as dogs can be loud during the day and bark, which can annoy neighbors. It may be better to stop allowing pets if your tenant's dog is a persistent nuisance.
Consider Pets in a Rental Property Today
If you are deciding whether you want pets in a rental property, you should make an informed choice once you think about all the factors. With this guide to the pros and cons, you can determine whether your rental unit is fit for animal companions.
Would you like to learn more about how to manage your property effectively? Take a look around our site or contact us today for answers to all of your rental questions.
