Pets in Your Rental Property: Should You Allow?
Pets in Your Rental Property:
Are you thinking about whether or not to allow pets in your rentals?
Allowing pets in your rentals may lead to property damages.
However, not allowing pets can affect the interest of potential tenants.
So, whatever you decide, it will affect your overall profits.
Statistically, only 55% of homeowners allow pets.
Resultantly, this affects the rental experiences of renters.
Factually, owning pets reduces the number of houses a tenant can rent by 50% or more.
Nevertheless, a landlord can take advantage of this opportunity.
This offers you a chance to attract more tenants.
Moreover, many renters with pets are responsible individuals.
So, having them as tenants may guarantee timely rent payment and proper property maintenance.
This article will show you the pros and cons of allowing pets in your property.
Also, it will highlight how to screen renters with pets.
Furthermore, it will let you know how to deal with other issues.
Pros of allowing pets in your rentals
· Increase in the number of interested tenants
By allowing pets in your rentals, you will increase the number of potential tenants.
This can be as much as an additional 70% of rentals with pets.
Hence, if you do not allow pets, you are reducing the number of potential tenants.
· Get a higher rent, pet rent, or pet deposit
Generally, house owners who allow pets seem to make more money than others.
This is because they tend to charge their tenants for various fees.
These fees include pet rent, pet deposits, or non-refundable pet charges.
So, landlords can use this opportunity to make more money on their rentals.
· Pet owners are usually responsible renters
Typically, owning a pet requires lots of responsibilities.
It demands lots of attention and time.
Hence, most individuals with pets are responsible tenants.
Such responsible renters are likely to take care of your rentals and adhere to lease terms.
Usually, they are thankful and loyal renters.
· Pet owners are more like to stay longer
Pet owners do not move out quickly.
They are likely to stay in your rentals for a long period.
Basically, this is because moving with a pet is usually difficult.
There are a couple of reasons for the difficulty.
Foremost, there are only a few properties that allow pets.
Also, moving around with pets can be too stressful for pets.
Consequently, most of these pet owners tend to renew their lease.
So, if you want a long-term renter, consider a pet owner.
Cons of allowing pets in your rentals
· Your condo association may not allow pets
Sometimes, your condo association may be against pet parenting.
Therefore, it is advisable for you to check with your association before doing anything.
Sadly, if the association is against it, there is nothing you can do.
· Pets can damage your rental property
By allowing pets, your rental is susceptible to damages.
This is especially true if the pet is a puppy from a breed that can chew.
A survey was conducted among landlords who allowed pets.
About 64% of the landlords noted that a dog had damaged their rentals.
There are different kinds of damages that pets can cause.
They include chewed woods, scratch marks, and bad odours.
Others are destroyed landscaping and chewed wires or cables.
Generally, pets are synonymous to allergens.
Cats that shed and long-haired dogs are the major culprits.
Well, the pet owners may have no problems with the allergens.
However, the allergens may be a problem for other tenants.
In places with air conditioning ducts and common areas, allergens spread quickly.
Nevertheless, landlords can deal with this.
Let every tenant know that your rental is pet-friendly.
Thus, everyone can be aware of the possibility of allergens.
Irrespective of their training, pets can be noisy.
And this can affect other renters or neighbours.
If you have a tenant with dogs, the dogs are likely going to bark.
So, if you are considering such tenants, make inquiries.
Ask them if their dogs bark and how much and often they bark.
You can also ask their previous landlords.
Also, ensure other renters know the property is pet-friendly.
So that everyone can be aware of the possibility of noise from the pets.
· Dog Bites
Remember that you may be liable for any injury within your rental property.
A study shows that 7% of homeowners said a dog had bitten someone in their property.
Therefore, you must also consider this before allowing renters with pets.
Screening renters with pets
Provided you would like to allow renters with pets, you need to screen your tenants properly.
This will help you to be proactive in dealing with possible problems.
Should restrictions be on the size of the dogs?
The size of a dog may determine the level of the havoc it can wreak.
As a result, a few homeowners have size restrictions for dogs.
Statistically, about 43% of homeowners do not consider size restrictions.
For those with restrictions, a larger per cent allow a dog that weighs 80 pounds or less.
Should there be restrictions for the number of pets?
In general, this should be according to the size of the property.
Some tenants may have more than two pets.
So, you need to consider this before allowing renters with pets.
Also, there are city laws as regard this.
Therefore, you should be conversant with these laws before determining the limit.
Should there be restrictions on dog bread?
This is all dependent on your choice.
However, ensure that you ask questions and meet the dog before signing the lease agreement.
Overall, some breeds of dog are commonly discriminated against.
This is largely due to their violent nature.
These breeds include Pit bulls, German shepherds, Rottweiler, and Dobermans.
Nevertheless, training can help in avoiding any violent acts.
Possible screening questions
- How many pets do you have?
- How old is your pet?
- What is the size and breed of your pet?
- For how long have you been parenting the pet?
- Has your pet been aggressive towards anyone or other animals?
- Have you updated the vaccines of your dog?
- Is your pet trained?
- How many people are responsible for the pet?
- Does your pet get along with kids, adults, and other animals?
What about therapy, service or emotional support pets?
Simply put, you should allow renters with service or emotional support pets.
However, you can deny tenants with therapy dogs.
Such pets are not protected.
How to deal with pets in your rental lease
You should add a clause about allowing or disallowing pets in your lease.
This ensures that every potential tenant understands your stand on the issue.
If you want to allow pets, you should address some essential items.
These items include:
- Pet deposit amount
- Pet rent amount
- Non-refundable pet fee
- Renters insurance in your lease. This protects against any damage or injury caused by the pet.
Is charging pet rent, a pet deposit, or a pet fee?
Pet rents. This is a monthly charge.
Typically, it ranges from $20 to $100. As much as 34% of homeowners charge pet rent.
Pet deposit. Landlords collect this once the tenants move in.
Just like the security deposit, it is refundable.
Generally, it is for covering any damage that the pet caused in the rental.
However, when there is no damage, the tenant will get a refund.
As much as 77% of landlords charge this deposit.
Non-refundable pet fee. It is charged for allowing pets to stay in a property.
There is no stipulated amount or per cent for this fee.
You can determine whether want to charge any or all of these fees.
Nonetheless, it is advisable to choose only one of these fees.
What if an existing tenant gets a pet in a no-pet property?
Does your lease state your stand against pets?
If a tenant brings in a pet, it is a breach of the lease.
Resultantly, you can evict the tenant if you want.
Nevertheless, you can talk to the renter about it.
You can reach a compromise on the best option for all parties.
Do you need more advice on allowing pet owners or not?
Are you looking for solutions to any real estate issues?
Speak to us now at Reneza.
We are committed to helping homeowners and their renters.