Pets or No Pets?
It might be challenging for a landlord to decide whether to permit pets in their rental properties. On the one hand, adding dogs could boost your renter pool and rental income. Pets, however, can also result in property damage, increase wear and tear, and make it more challenging to attract new tenants when the present ones vacate.
Weighing the potential benefits and drawbacks of permitting pets in your rental property is one way to approach this choice.
– Since many renters own pets, allowing pets may draw in more potential tenants. The American Pet Products Association estimates that 67% of American households have a pet.
– Because they have a personal stake in maintaining the property, tenants who own pets are frequently more responsible and take greater care of the rental.
– Many pet-owning tenants are prepared to pay a larger security deposit or pet rent in order to keep their animal in the property.
– Pets may harm the home by scratching the floor or making holes in the walls.
– Pets can also cause more damage to the property by leaving pet hair or urine stains behind.
– If there is a pet odor or other evidence of pet damage, it could be harder to find new tenants.
The choice of whether or not to permit pets in your rental home is ultimately a personal one that will be influenced by your particular situation. It can be a good idea to have a clear pet policy in place if you decide to allow pets. This policy should outline any restrictions on breeds, size, and number of pets, as well as any additional costs or deposits. Additionally, it’s crucial to confirm with your insurance provider that any potential damage brought on by dogs is covered by your policy.
Notably, dogs and cats are the most popular pets, with 36.5% of families owning a dog and 30.4% possessing a cat. Fish, birds, and small mammals like guinea pigs, hamsters, and rabbits are among more common pets.
Shameless ECREG Pet Guarantee Pług:
– We are one of the few property management companies that provides an actual guarantee against pet damage! So, how does this program work? If pets are approved, the resident has to pay a small Pet Administrative Fee every month to ECREG. ECREG uses these fees to cover our costs of administering the program and getting repairs done on your property, if an approved pet causes damage. This guarantee covers up to $1,000 in damage above and beyond what the security deposit covers. *additional rules apply