Reportedly, 78% of apartment buildings allow pets. But that doesn't mean that you have to do what all the other landlords are doing.
There are a lot of ways that you can benefit from allowing pets in your rental properties. But allowing pets can also set you up for failure in many ways. You should weigh all the pros and cons of allowing pets in a rental property before deciding.
This article can help you get started. Read on to learn about some of the pros and cons of allowing animals in a rental property.
Con: Pets in a Rental Property Cause Damage
This is probably you're main concern. Pets can urinate on carpets, destroy furniture, and more. You'll likely end up having to pay to get this damage repaired.
But you might not end up having to pay as much as you may think.
Pro: Pet Owners Will Pay a Higher Rent
The allowance of pets in a rental property is always a major perk for pet owners. They should be willing to pay you more to stay in a pet-friendly apartment. You're even more likely to claim a higher rent if many of the apartments in your area don't allow pets.
You can use all the extra money to pay for the damage pets cause. You'll probably even make more than the cost of the damage.
Con: Pets Can Create Noise and Odors
Some pet owners may struggle to take good care of their pets. Their pets can make a lot of noise and disturb the neighbors. Some pet owners may struggle to bathe their pets or clean up after them properly.
This can cause tenants to move out. But with proper tenant screening, you can probably avoid these issues. Well-adjusted, responsible people should take good care of their pets.
Pro: Pet-Owning Tenants Stay Longer
Here's another thing to consider when you're thinking about noise and odors. Pet-owning tenants tend to stay longer than tenants who don't own pets. This has to do with how tricky it is to find apartments that allow pet owners to keep their pets.
Yes, a lot of apartments allow pets. But most of these have limits on the pet types they allow. For example, some places only allow certain dog breeds and sizes.
So when you get a pet-owning tenant, you'll likely have them for a long time. This means you'll get more rent over time.
Property Management Services in Pleasanton, CA
Now that you know some of the pros and cons of pets in a rental property, use this knowledge as a springboard. You can think of some pros and cons on your own. Or you can find more in-depth information about the pros and cons listed in this article.
But you may still need more help in deciding what's best for your rental properties. If so, consider reaching out to our property management services team in Pleasanton. Along with providing advice, we can also help you find tenants, affordable maintenance, and more.
Get more information by contacting us today.