One question you are sure to get asked frequently is whether or not you allow pets in your rental units. As of 2020, 70% of American households have at least one pet, and due to the COVID-19 pandemic pet ownership has skyrocketed. As a landlord, you will definitely want to consider allowing pets. At the same time, it is always a good idea to look at both sides of the equation to decide if the arrangement will work for you. Are pets worth the hassle?
Consider the Risks
Pet owners will be the first to tell you how difficult taking care of an animal can be. Pets can inflict property damage by scratching and chewing materials, or leaving evidence of their messes long after they’ve been attended to. Urine can seep into floors, causing persistent and unpleasant odors, and this will certainly be off-putting to potential tenants. If they are allergic to pets, that further complicates the situation. There’s also the noise level to consider: whereas some pets might be relatively quiet, most tend to make themselves known. Not all your tenants will enjoy having pets as neighbors, and this could trigger regular complaints.
If you allow pets in your properties, you may have to do more repairs, check for maintenance more often and facilitate arguments between neighbors. Plus, pet owners themselves could be the problem: are they negligent, letting their pets run the home, or do they take extra care to ensure no damage occurs on their watch?
Weigh the Benefits
If you allow pets in your rentals, this could benefit you in a number of ways. For one thing, more people will be interested in your properties. If you cut out the pet-owning side of the population, that’s a huge slice of potential tenants you’re refusing. Consider this as well: what about tenants who don’t own pets now, but might change their minds later? Renters might not stay the long haul if another property allows pets. This means less potential profits. Allowing pets, on the other hand, allows you to charge more for offering the option. It’s also worth noting that (while there are exceptions) most pet owners tend to be very responsible tenants since they’ve had practice looking after an animal. Typically, they don’t want their homes to feel unclean either.
By allowing pets, you will generate more interest in your properties and make your potential pet-loving tenants very happy. For them, pets are a part of the family and if you don’t permit them, it could be an instant deal-breaker.
The Bottom Line: Should You Allow Pets?
Ultimately, this depends on what works for you. Are there a lot of pet owners in your area? Do you feel like you are prepared to deal with the complications? If so, it might be a good idea to allow pets. This doesn’t have to be a one-size-fits-all approach: there are ways you can restrict the process to suit your needs. You could, for instance, screen pet owners to make sure they’re dependable, or only allow animals under a certain weight. As a landlord, you could even decide on a case-by-case basis after you’ve met your potential tenants. The options are endless, and you may decide pets aren’t right for your rentals. First, it would be worthwhile to put some thought into how you can compromise rather than refusing to allow pets outright.
How All County Denver Metro Can Help
All County Denver Metro Property Management is here to help property owners have confidence in the quality of their tenants and the security of their property through knowledgeable and trustworthy property management services. From managing tenant relationships to lease enforcement, we look forward to working with you to see how your investment can be a long-term, stress-free asset. For a complimentary quote, call us today at (720) 664-4550.