It can be challenging to decide whether or not to offer a pet-friendly rental home in Loganville. Offering a pet-friendly rental property could make way for a whole new renter demographic. There are also drawbacks when you allow tenants to keep pets on your rental property. Before offering your property as a pet-friendly rental, it’s essential that you weigh the pros and cons of doing so.
According to the American Pet Products Association (APPA), 68% of U.S. households have one or more pets. With Americans owning more than 90 million dogs and 94 million cats, it is plain to see that pet owners outnumber non-pet owners by a fair margin. Roughly 50% of those who rent are also pet owners. Furthermore, 35% who are not pet owners said they would have a pet if their lease allowed it.
After looking at these statistics, you can see how pet-friendly rentals could mean an increased demand for your property, which could mean a chance to increase income by charging pet fees and higher monthly rent. From a purely financial perspective, you have many great reasons to let pets into your rental property.
However, owning a pet-friendly rental also brings along a new set of potential problems. One of the most significant of these is the risk of property damage. Pets usually cause damage to homes and yards. Even well-trained family pets can wreak havoc. Some dogs instinctively dig holes, chew doors and trim, or claw walls and doors, while cats generally like to scratch and mark furniture and floors. If your pets are anxious or untrained, they are even more likely to cause damage. Animal urine can soak into wood trim, carpet pads, and drywall, creating strong odors and unsanitary conditions. Property owners who allow pets also tend to have more repairs and maintenance costs.
To minimize these costs, most property owners advise their tenants to take preventative measures against property damage. You can also require a pet deposit. Tenants are likely to agree to an additional fee if it means they can keep their beloved pets. Some have found it helpful to give their tenants instructions on protecting the home against pet damage. Simple strategies like providing a scratching post for a pet cat or using enzymatic cleaners on urine spots can minimize some damages.
Encouraging tenants to clean up after their pets is also a good idea. This would include emptying a cat’s litter box or housebreaking a dog. Finally, if you notice a tenant’s pet seems anxious or bored, you can suggest that they get a pet sitter or a daycare situation. With these strategies, you can both protect your rental property and allow your tenants to keep their pets.
Another thing to consider about allowing pets in your rental home is the potential impact on future tenants. Tenants who have fur and dander allergies might not want to rent a house that has previously had pets in it. Pet dander can be a challenge to remove completely and can cause allergy symptoms in sensitive individuals.
Should you allow pets on your property, make sure you clean the house correctly before accepting a new tenant. All interior surfaces should be washed, or steam cleaned, if possible, and thoroughly vacuumed using a HEPA filter to remove embedded pet hairs and debris. Clean the home’s air ducts and replace all filters as well. An expertly calculated pet deposit should adequately cover these additional expenses.
There are several advantages and drawbacks to consider in terms of pet-friendly rentals. What is important is that you have looked at all the factors, including your rental property’s location and target demographic, so that when you make the big decision, it will be a good fit. If you need help getting to know the local market and managing your rental, contact us online, and the team at Real Property Management Citywide would love to be of service to you.
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