Did you know that over 90 million families in the U.S. own pets? Some of these families are sure to be renters, and they're going to be looking at your property as a potential home.
But how can you decide whether or not you're going to allow those pets? There are plenty of reasons that you would, but allowing pets comes with risks.
We're here to talk about it. Read on to learn all about whether or not to allow tenants who are renting with pets.
Benefits of Allowing Pets in a Rental Property
There are plenty of benefits of allowing your tenants to have pets.
As we mentioned before, over 90 million families own a pet of some sort. While not all of these families are going to be renters, many of them will be. If you don't allow pets in your rental property, you're dramatically reducing the number of potential tenants (who may be fantastic tenants) who will apply to your property.
Your property will become more popular, especially if there aren't many pet-friendly rentals in your area.
When you allow pets, you're also reducing the chance of someone trying to move a pet into the property without your permission. Remember: people aren't going to get rid of their furry friends.
By allowing pets, you can include information in the lease about the owner's responsibilities. You can also prepare yourself better for special cleaning needs when the tenant moves out.
Allowing pets also makes it easier when it comes to support animals. You don't have to figure out how to adjust the lease to include them.
Downsides of Allowing Pets in a Rental Property
With this in mind, there are a few potential downsides to allowing pets for landlords.
Pets do have the potential to cause damage. While it's unlikely, it's something that you have to keep in mind. Good pet owners are happy to cover damage, but not all pet owners are good ones.
If you have other tenants who are afraid of or allergic to pets, it may cause tension in the building. Some people choose pet-free properties specifically for that reason.
Renting With Pets: Finding a Middle Ground
You don't have to allow all pets on your property and you can prevent some of the cost-related problems if you plan ahead.
First, consider charging an extra fee or a pet rent for people with pets. It's either a one-time fee of a few hundred dollars or a few extra dollars per month (often less than 25).
You can also have breed restrictions. Many rentals only allow small dogs and cats. Others that allow larger dogs may restrict more controversial breeds or take them on a case-by-case basis.
You have control over who stays in your rental property, and that includes furry friends.
Will You Allow Pets in Your Rental Property?
Allowing pets in a rental property is a big decision. Remember that renting with pets is stressful for tenants and that you may get more money from those tenants if you allow them. Don't forget the risks, of course.
Which will you choose?
Are you looking for experienced property management experts in Atlanta who can help you make all of these tough decisions (and more)? Contact us so we can start working together today.