As a property owner, one of the biggest decisions you have to make is whether to allow tenants with pets. After all, over 63 percent of U.S. households own either a dog or cat! Deciding not to allow them can reduce interest in your rental, leading to less profit.
Still, not all landlords feel comfortable with the idea of allowing pets in their rental property and prefer to adopt a no-pet policy. If you're unsure whether you should allow animals in your rentals, we invite you to keep reading!
This article will explore the pros and cons of allowing pets in a rental property, shedding light on both perspectives.
Pros of Allowing Pets in a Rental Property
One of the biggest reasons to allow pets in your rental properties is that you'll have a much larger pool of potential tenants. Since so many people own pets and few rentals allow them, you'll find tenants much quicker. That means you'll reduce the risk of extended vacancies.
The higher rental demand for pet-friendly properties also means you can charge more for your property. In the long run, this leads to greater profitability.
Another great reason to allow pet owners to rent your home is that pets are a sign of stability. In general, those who have them tend to stay in a rental property longer than those without commitments. By allowing pets, you increase the chances of attracting responsible, long-term tenants who value the stability of their living situation.
Moreover, allowing pets in rental properties decreases pet abandonment. When rental properties prohibit pets, some tenants may feel forced to give up their beloved animals. Allowing pets contributes to the well-being of animals and reduces the burden on animal shelters.
It should be noted that landlords must allow service animals and emotional support animals under California law.
Cons of Allowing Pets in a Rental Property
While there are several advantages to allowing pets in a rental property, there are also some downsides.
Primarily, landlords usually tend to worry about the potential damage that pets can cause to the property. To address this problem, landlords should consider implementing pet-related clauses in the rental agreement. For example, they may state that pet owners are responsible for urine stains, scratch marks, or any other damage caused by pets.
Another reason that landlords are hesitant to allow animals in rentals is the noise disturbance they cause. Dogs that bark all day can disturb the peace, causing tension in the neighborhood.
Landlords may also need to consider allergies and health concerns that pets can cause. Certain individuals may be allergic to pets, and their health can be negatively impacted by living in a pet-friendly environment. However, this is only a concern when the tenant shares common areas with other renters.
A final concern is that allowing pets increases the landlord's liability in case of incidents such as dog bites or property damage caused by pets. Insurance coverage may need to be adjusted accordingly, which could result in higher premiums.
Should You Allow Pets in Your Rentals? Let Us Help You Decide!
Deciding whether to allow pets in a rental property is a complex decision. It requires careful consideration of both the pros and cons.
After reading both perspectives in this post, you still may have some questions about renting to pet owners. If so, don't hesitate to contact us at Chosen Property Management in the Merced, CA area.
With the help of our professional rental property management services, you can spend less time worrying about the ins and outs of your properties and more time enjoying the profits you make!
