Love them or hate them, pets are here to stay—should your rental property make room for them? Landlords have been debating whether pets should be allowed in rental properties for ages. According to the American Pet Product Association, 66% of U.S. households have pets as of 2024, which is an increase from 3 decades ago with 56%.  As pet ownership rises, many renters seek housing accommodating their animals. And while ignoring this trend could mean missing out on a large pool of responsible and long-term tenants, it also could lead to other issues. We will explore the pros and cons of permitting pets in rental properties and suggest how landlords could implement pet policies that protect their investments.

Pros Of Allowing Pets In Your Rental Property

Accommodating pets in your rental properties presents several advantages, such as attracting a broader range of prospective tenants or boosting property popularity.

Access to a Larger Pool of Tenants

As pet ownership increases, more renters are prioritizing pet-friendly housing options when applying for and choosing places to live. However, due to common restrictions, many residents may be desperate to find a property that allows their pets. By providing this accommodation, you can make your property stand out from competitors and tap into the pet renter market. Additionally, higher demand for your property allows you to be more selective when choosing tenants.

Higher Rental Income

Worried about damages? Landlords who allow pets often charge pet rent or even higher overall rent, which can offset potential damages. Many tenants are willing to pay extra for a pet-friendly home. Some residents may be willing to pay more to have a yard, as they don’t want the inconvenience of walking through an apartment complex three times a day so their pet can relieve itself. Charging a reasonable pet fee can help offset potential wear and tear while boosting rental income. These fees and extra charges offer a profitable opportunity for property owners.

Improved Tenant Satisfaction and Retention

Tenants with pets appreciate landlords who accommodate them. Many pet owners struggle to find rentals that meet their pets’ needs, so once they secure a pet-friendly home, they are more inclined to renew their lease and stay in the property. This leads to better tenant relationships, reduced vacancies, and decreased resident turnover.

Cons Of Allowing Pets In Your Rental Property

Whether it’s a Great Dane or a tiny kitten, rental properties with pets will have more wear and tear to them than properties with no pets. When it comes to frequent maintenance and repairs because of this damage- it’s not an if; it’s a when. Furthermore, noise and allergen concerns can create challenges, especially in multi-unit properties.

Potential Property Damage

While many people love living with their pets, they can lead to some damage. Pets can scratch floors, stain carpets, leave an odor, and damage walls. Even well-trained animals can create unexpected maintenance costs. Over time, repeated pet-related damage can result in expensive renovations, making it crucial for landlords to account for potential wear and tear.

Allergen Concerns

Even if the pets are gone, their dander might not be! Pet dander can cause allergic reactions in future tenants. Proper cleaning between leases is essential for maintaining a healthy environment. Due to this, deep cleaning services, like air duct maintenance and carpet shampooing, may be necessary to fully eliminate pet allergens.

Noise Complaints and Disruptions

Dogs barking or pets making noise can disturb neighbors. This can lead to complaints and potential conflicts in multi-unit properties. Excessive noise can violate lease agreements or local noise ordinances, creating additional challenges for landlords.

Reducing Rental Management Risks

Setting clear pet policies in your rental property helps prevent issues and set tenant expectations. Common restrictions include breed, weight, and pet limits to minimize damage and disturbances. Monthly pet rent provides financial protection for cleaning and repairs. A detailed pet agreement ensures tenants understand their obligations, including cleaning up after pets and promptly addressing damages. Clear rules and financial safeguards can also help you manage pets in your rental properties.

Let The Experts He

Allowing pets in your rental property has benefits and risks. Avoid the headache of dealing with it, and let Ferguson Property Management take care of everything! We know how overwhelming making these decisions can be, but Ferguson Property Management can assist in crafting effective pet policies tailored to your needs. Our team helps landlords attract responsible tenants while protecting their investments.