Benefits of Pet-friendly Housing for Landlords

With a range of concerns that the landlords face nowadays, opting for a pet-friendly rental property seems like an extra hassle. Just a thought of it could seem like an unnecessary cost of furniture repairs. However, the reality proves to be different than that, and even optimistic. Many local landlords understand the benefits of allowing their tenants for having pets for several reasons and this article will cover some of them.

 

Pet owners are great tenants

If a person is responsible and mature enough to take care of a pet, then there is a higher probability that he or she will look after your property. Having a pet means being a disciplined, consistent and attentive individual – great qualities you’d wish your tenants possessed, wouldn’t you? If you are still worried about the possible damages, you might want to hold your tenants responsible for their pets and charge a pet deposit to ensure you are covered in the worst-case scenario. Moreover, you could also ask the potential tenants for some references, explain them pet policies in detail and even meet the pet before signing your agreement.

 

Access to a larger tenant pool

Allowing your property for pets means reaching a larger group of tenants. In addition to the existing tenant pool, you will also have both existing and potential pet owners to choose from.

 

Set a higher price of the rent

Besides the fact that the number of pet-friendly properties is limited on the current market, as an owner you might benefit from a higher rental payment due to high demand and low supply. Additionally, pet owners who already allocate certain finances for their furry friends will gladly pay extra for a pet-friendly home.

 

Longer tenancy periods

Given it is hard to find pet-friendly properties, pet owners most commonly rent their homes for longer periods of time. This means you are more secured when renting out your property as your tenants will be more likely to stick with you rather than risking giving up their pets.

 

More satisfied tenants

It is a common wisdom that animals can help to reduce stress. Allowing your property for pets could bring you tenants the feeling of home, and hence result in a healthy long-lasting relationship with them.

 

Do you consider allowing pets in your property? Share your insights with us in the comment section below!20170630