Increased Property Values
The ability to raise the value of your home is one of the most important justifications for allowing pets among your tenants. According to studies, pet-friendly properties appreciate more quickly than properties that do not allow pets. Additionally, buyers usually look for homes with pet-friendly amenities like pet doors, fenced yards, etc. The value of a rental property that welcomes pets may be higher than it would be otherwise.
Shorter Vacancies
Pets are another way to attract more renters to your house. Actually, more than half of all renters said they would be more likely to rent from a landlord who permits animals, according to a recent survey. This indicates that permitting pets in your rental property will likely reduce vacancy duration.
Fewer Repair and Maintenance Issues
Contrary to conventional belief, tenants with pets are less likely to cause property damage than those without pets. This is due to the fact that tenants who have pets are typically already more responsible tenants. The majority of tenants who own pets are aware of the responsibilities involved in pet care and are likely to take the same amount of care with their rental home.
Increased Security
It may increase your home’s security, which is another persuasive argument in favor of allowing tenants to keep pets. According to research, burglaries and acts of vandalism were less common on properties with animals. This is likely due to the fact that criminals are less likely to target a home with an animal companion present.
Improved Tenant Health
Lastly, allowing tenants to maintain pets can be extremely beneficial to their state of being. It has been demonstrated that having a pet lowers stress, blood pressure, and cholesterol. They can also help to promote more social interaction and physical activity. For these reasons, pet-owning tenants are frequently healthier than those without animals.
As you can see, there are a lot of compelling reasons to let tenants keep pets in your rental home. If you’ve been wondering whether to accept pets or not, this list might have persuaded you to give it a try! It will be valued by your tenants and property.
Do you want a professional’s advice on how to make your rental home more pet-friendly? Contact your local Real Property Management office today!