Are you trying to decide whether or not allowing pets in a rental property is a good idea?
Many property owners get nervous about pets. They immediately reject the idea for fear of damage. But is this the right choice?
It's easy to assume that allowing pets is a bad idea, but consider how you would feel as a tenant. Do you have pets of your own? Would you give them up in order to get a new apartment?
We're here to talk about why you should consider creating a pet-friendly rental.
More Potential Tenants
One of the top reasons that you should allow pets in your building is that you'll have more potential tenants applying for each unit.
Look around at local listings. How many apartments or rental homes don't allow pets? These places are all inaccessible to the tenants that you can now bring in.
You might be tempted to only allow one kind of pet, but if you're flexible, you'll get even more tenants that can't find homes elsewhere. You still have power over what kinds of pets that you're accepting, but if you choose to allow cats, dogs, and small alternative pets, you're opening yourself up to pet owners everywhere.
You can still restrict animals to a certain size if you choose to do so.
Better Tenants
Tenants who have pets often try to behave better than other tenants. They know that finding a pet-friendly rental wasn't easy, and they don't want to rock the boat.
Pet owners are often more diligent with cleaning, and while pets can cause damage, pet owners do their best to avoid that problem. They're often happy to make any repairs.
These tenants want to make sure that you can provide a good reference when it's time for them to move again because pet-friendly rentals are in such short supply.
Renewed Leases
Not only will you have more and better tenants, but these tenants are also likely to stay for longer.
Pet-friendly rentals are hard to find, and most pet owners know that they've struck gold when they find a great property that allows their furry friends. As long as they're staying in the area and not expanding their family or household, they have no reason to leave.
Finding a new tenant is frustrating at best. It can be expensive to market your unit, and you have to go through the process of vetting new tenants while you lose money on that unit.
Keeping hold of your great tenants, with or without pets, is the goal of any landlord.
Allowing Pets in a Rental Property Is the Answer
Rental properties that allow pets attract more and better tenants who are likely to renew their leases. While you might risk a small amount of damage, you still have damage deposits (if necessary) and it's worth the risk.
Allow pets in a rental property and see the applications flood in.
Are you looking for help with your rental property in Triad, NC? At HomeRiver Group, our experienced property management professionals can help you manage marketing, leases, and more. Contact us to start working together today.
