https://www.youtube.com/watch?v=5AxEkZ7SiTk
Permitting pets in your rental property can be a fantastic decision. It not only attracts a wider range of renters but can also boost your rental income.
It’s widely known that people adore their pets, often treating them as cherished family members. Approximately 70% of households in the United States have at least one pet, yet many rental property owners remain apprehensive about allowing them. Concerns about potential damage to their homes and disturbances to neighbors often lead to hesitation.
At Andren Homes, we understand the worries of our clients about permitting pets in their properties, especially if they are new to renting. So, why should they allow pets when there’s a possibility of property damage? While property owners are aware of the risks pets can pose, they may not realize the significant benefits of allowing them.
Expanding Your Renter Pool
One of the primary advantages of allowing pets in your property is that it significantly broadens your pool of potential renters. Over 50% of renters have pets and actively seek homes that welcome their furry companions.
With a larger number of applicants, you’ll have more qualified choices. This increased interest can lead to quicker rentals, which means your property will spend less time on the market and ultimately save you money.
Moreover, it’s important to note that some renters might sneak their pets in, regardless of your policy. They may prefer risking a pet violation rather than parting with their beloved animals or searching for a pet-friendly property. This situation often results in you having to issue a notice to remedy the issue, or facing potential eviction, creating hassle for everyone involved.
Sometimes, tenants will register their pets as emotional support animals (ESAs) to bypass restrictions. Remember, service animals and ESAs cannot be denied because they are considered working animals, not pets.
Implementing Pet Rent or Pet Deposits
Property owners frequently worry about the potential for pet-related damage, such as scratched floors or ruined carpets.
To alleviate these concerns, we suggest implementing either a pet rent or a pet deposit. A pet rent is a monthly fee, while a pet deposit is a one-time payment made by the tenant upon moving in. Not only does this additional charge offer protection against potential damages, but it also contributes extra income for you.
It’s crucial to charge only one of these options. Overcharging could lead tenants to certify their animal as an ESA, which means they cannot be charged for pet fees. If a tenant challenges you in court over double fees, a judge will likely rule in their favor.
Pet Owners Are More Likely to Renew Their Lease
As a rental property owner, one of the most significant costs you face is vacancy expenses. When your property is unoccupied, you’re missing out on rental income. Each time a tenant leaves, the urgency to find a replacement begins.
One of the notable advantages of tenants with pets is their higher likelihood of renewing their leases. Once they discover a property that meets their needs and allows their pets, they are often reluctant to deal with the hassle of moving or finding another pet-friendly home.
Setting Your Own Restrictions
Allowing pets doesn’t mean you have to accept every type of pet. You can establish guidelines regarding weight, breed, age, and the number of pets permitted.
Certain breeds, such as pit bulls, rottweilers, dobermans, and German shepherds, are frequently banned by landlords due to concerns over aggression. Some landlords may choose to focus on age, opting not to allow dogs younger than one year, as they may be more prone to causing damage.
We recommend clearly outlining your criteria for accepted pets, similar to your tenant requirements. When a prospective renter applies, request a photo and description of their pet along with vaccination records. You may also inquire about the pet’s training, ownership duration, and any history of aggression.
Keep in mind that your pet policies do not apply to service or emotional support animals, as they are not classified as pets, and therefore any restrictions regarding breed, age, or weight do not pertain to them.
When conducting tenant reference checks, ask the tenant’s previous landlord about their experiences with the pets. This information can provide valuable insights into the pet’s behavior and whether it caused any property damage.
Next Steps
Once you decide to allow pets and establish your criteria, add an addendum to your lease that details all pertinent information. This should include specifics about the pet, terms related to pet rent or deposit, rules governing pet ownership, and procedures for adding additional pets to the lease.
Allowing pets in your property doesn’t have to be a source of anxiety. With a broader selection of renters, a pet deposit to cover any damages, and thorough screening processes, you can safeguard your property and ensure that your tenants are responsible pet owners.
If you found this article helpful, follow us on social media. We post daily tips to help you manage your own rental property: