Pets are becoming more widely accepted in all facets of society. More businesses are readily accepting animals, including places like hotels. This means that people are becoming more accustomed to pet-friendly establishments being available. However, there are far more families that own pets than landlords that allow them, which is why it is important to carefully consider whether or not you will be allowing pets in your rentals.
Benefits of Allowing Pets in your Rentals
Allowing pets to live in rentals can significantly expand the potential tenant pool for landlords. When pets aren’t allowed, potential tenants will be severely limited. Allowing pets in rental properties allows landlords to charge more rent to offset potential costs of pets. Tenants tend to remain happier and more satisfied when they are allowed to have pets. They also tend to stay in one place for longer, which can minimize property vacancies. In addition, properties that won’t allow pets may result in tenants sneaking pets in, which will be minimized when pets are allowed in rental properties.
Downsides of Allowing Pets
Though there are many benefits to allowing pets in rental properties, there are a few potential risks that need to be considered. Pets that are present in these properties can cause damage to the building, including chewing and scratch marks. Pets may also be a liability risk if they bite you, other tenants, or neighbors. Some pets may result in noise complaints. The presence of pets will also result in a buildup of allergens and dander on carpeting and in air vents.
These risks can be offset by creating regulations and outlining a specific pet policy. You may want to consider limiting the number of pets allowed on the property or requiring pets to be spayed or neutered. To learn more about allowing pets in your rentals, contact us at the Keyrenter in South Florida today!