Pros and Cons of Making Your Rental Property Pet-Friendly

Pros and Cons of Making your Rental Property Pet-Friendly

As the owner of a rental property, you might be on the fence whether or not to make your property pet-friendly. While some property owners have bad experiences with pet-owning tenants, there are benefits to welcoming pets into your rentals.

Here are some advantages and disadvantages of having a pet-friendly rental property. We’ve also included a few tips to ensure that you make the best decision for you and your tenants.

Pet-Friendly Places Usually Get Higher Rent

Property owners who have pet-friendly rentals are often more likely to boost the price of rent without protest from tenants. Many tenants with pets expect to pay more for a pet-friendly apartment or home.

There’s no guarantee that asking for higher rent will automatically get your pet-owning tenants, but your chances are probably better if your property is in a neighborhood where pet-friendly rentals are not common.

Pet-Owning Tenants are More Likely to Rent Long-Term

Many tenants who have a cat or dog know how difficult it can be to rent a property that accommodates their furry friends. There’s a good chance you will have tenants that will renew a pet-friendly lease year after year.

Even if your tenant isn’t interested in renewing the lease, your rental property is not likely to sit vacant for very long. Pet owners are always on the lookout for a nice, pet-friendly rental.

Tenants with Pets are More Responsible

Renters with pets often have a bad reputation for being irresponsible, violating their rental agreement. Or for letting their pet destroy the apartment or house. While there will always be a tenant or two who will fit this description, many pet-owning tenants are more responsible and take better care of the living space.

Now, with some cons.

Pets can be Noisy and Cause Damage

When you allow a tenant to have a pet, there’s always the risk of noise complaints property damage. Some renters have dogs with separation anxiety or cats that mark their territory. You might end up with a lot of complaints from neighbors and a big cleaning bill once the tenant moves out.

It’s virtually impossible to know how a pet will adjust to their new living space. You can assume that your potential renter is being honest about their pet. However, they might end up being some of your worst renters.

Talk with a prospective tenant about their pet before you let them move in and go through a screening process. You’ll want to know things like whether the tenant was evicted for owning a pet or if the pet has proper training and the right license. These will help reduce any headaches down the road.

Pets can Injure Other Tenants

Even if a potential tenant assures you that their animal is well-behaved and trained, animals can be unpredictable and may even attack other tenants in your property or neighbors.

Screening your tenants, their pets, and even encouraging your renter to get renter’s insurance (just in case of a dog bite or animal attack) may help. This will reduce any additional trouble or worry for you as the property owner.

Pet-friendly rental properties can be a lot of work to maintain. You might often feel like you’re taking a risk. With the right tools and resources, you can successfully rent to pet-loving tenants. 

If you want to rent out a pet-friendly property, contact Shiprock Management for any questions, concerns, or additional helpful tips.

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