Allowing Pets in a Rental Property: The Good and the Bad

Allowing Pets in a Rental Property: The Good and the Bad

Many tenants have pets, and most landlords are faced with whether to allow them in their rental property. There are pros and cons to allowing pets in a rental property, and it's important to consider both sides before making a decision.

If you're on the fence about whether you want a pet-friendly rental community, don't worry. In this article, we'll lay out the upsides and downsides of allowing pets in a rental property. For the downsides, we'll also provide solutions to help you out.

Keep reading below to learn the good and bad of pet-friendly rental properties!

Attracts More Tenants

One of the biggest advantages of allowing pets in your rental property is that you'll be able to attract more tenants. This is especially true if you're looking to rent to families or individuals with children.

Families with children often have pets, and they're always on the lookout for pet-friendly rentals. If you allow pets in your rental property, you'll have a wider pool of tenants to choose from.

More tenants mean more competition, and that's always a good thing for landlords. With more tenants competing for your rental, you can charge higher rent prices and be more selective about who you rent to.

On the downside, you may attract tenants with aggressive or noisy pets. These tenants are difficult to deal with and may cause problems for other renters. 

Increased Risk of Damage

Another downside of allowing pets in your rental property is that there's an increased risk of damage. Pets are sometimes destructive, and they may cause significant damage to your rental unit, if left unchecked.

Of course, not all pets are like that, and some tenants take good care of their animals. But it's always a good idea to be cautious when allowing pets in your rental property.

To mitigate the risk of damage, you can require tenants to pay a pet deposit. This deposit will cover any damage that the pet may cause, and it will give you some peace of mind as a landlord. You should also consider adding a clause to your lease agreement that outlines the tenants' responsibility for pet-related damage.

Pets Can Be a Nuisance

Unfortunately, allowing tenants to have pets could become a nuisance. Dogs are noisy, and they may disturb other occupants in your rental property. This can lead to complaints and even legal action against you.

To avoid problems, it's important to set some rules about pet ownership in your rental property. For example, you can limit the number of pets tenants are allowed to have, or you can specify the type of pet that's allowed. Set a weight, size, and breed restriction.

Pets in a Rental Property: A Big Decision

Allowing pets in a rental property isn’t a bad thing. By renting to tenants with pets, your pool of potential renters expands greatly. But if you can't handle tenants renting with pets, let us help. Our property management team has the skills and experience to adequately handle pet-friendly rental properties.

For more information, reach out to us at  423-648-6676 or contact us online. We look forward to speaking with you!

 

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