By GoldenWest Management
Although some landlords may have a no pet policy, the reality is that it’s a smart idea for landlords to accept pets at their rental properties.
Since we constantly hear about all of the problems animals cause for landlords, you may not be as familiar with the benefits of allowing your tenants to have pets. This article will provide you with several reasons why you should consider accepting pets and the long-term benefits they will offer you.
Expose Your Rental to A Wider Tenant pool
Thanks to recent statistics from apartments.com we know that 75% of renters in the United States have said that they have a pet, and roughly 60% of those renters have struggled to find a rental property that allows pets.
Every landlord should consider accepting pets at their rental property because doing so will widen their tenant pool and make it possible for them to expose their rental to more prospects who are searching for pet-friendly rental properties.
Increase Your Renewals
The vacancy rate is decreasing in cities like San Diego, Phoenix, and Las Vegas. This has made it harder than ever before for some renters to find rental properties and most tenants who have pets will be inclined to renew their leases rather than look elsewhere because they won’t want to go through the hassle of finding another pet-friendly rental again.
Increase Your Annual Income
Since most pet owners are committed to their pets it’s possible that you can also increase your annual income by renting to them when you charge a pet deposit and monthly pet rent of $20 per month which can easily add up to $240 per year.
Protect Your Rental Property
Last of all, but most important, renting to people who have pets will also help you to protect your rental property because you will know up front what type of pet is living in the home, compared to finding out later that the tenant had a pet after they moved out.
Best of all, if your tenant’s pet causes damages to the rental property, you will be able to use their pet deposit to cover the cost of repairs.
Get Property Management Here
For professional property management contact GoldenWest Management at (866) 545-5303 or click here to connect with us online.