Should I Allow Pets in My Rental?

The question of whether allowing pets in a rental property is a good act or not continues to weigh on the minds of many landlords.

Roughly around 70% of American households (over half of possible renters) have at least one pet, making them a significant portion of the market.

However, the risks of allowing pets in rental property cannot be overlooked. The pet doesn't come alone; it also brings noise, odors, neighbor complaints, allergies, and, most important of all, property damage.

Deciding whether to allow pets requires an understanding of both potential risks and benefits. Although there are certain ways to allow the pets in the rental property, you can also protect yourself from property damage and other risks.

The Case for Allowing Pets in Rentals

As stated above, there are several perks of allowing tenants with pets. One of the most significant advantages is the expansion of your tenant pool.

By accepting tenants with pets, you open your rental to the demographic that many landlords restrict. This will increase the number of potential tenants and qualified applications, as well as limit the void period.

In markets where pet-friendly rentals are scarce, your property can shine and attract the perfect tenant. Another advantage of this is that tenants with pets tend to stay longer.

Rental properties that allow pets are their ultimate goal, so when they find one, they stay there, and they are more likely to renew the lease rather than move out.

This will reduce the vacancy cost and provide you with long-term, stable tenants. Additionally, allowing pets gives you the opportunity to charge additional fees or rent premiums.

It can be in the form of a monthly pet rent or a one-time pet deposit for wear and tear. Try not to charge both of them together, as this can lead to legal disputes or attempts to bypass fees by certifying animals as emotional support animals.

And if you're thinking of just increasing rent for tenants with animals, be sure not to overcharge the tenant. For example, if the average rent is $600, raising it to around $650 strikes a fair balance. Still affordable and enough to later pay for the wear and tear.

There is a huge benefit to being a pet-friendly landlord, as it will lead to more positive word-of-mouth referrals and stronger relationships with the tenants.

The Risks and Concerns with Rental Properties that Allow Pets

When renting to pet owners, common concerns include damage to the floors, carpets, and landscaping. Other factors include lingering odors, increased cleaning needs, and the possibility of aggressive behavior by the pet that could endanger neighbors and other tenants.

Renting a house with pets exposes you to pet allergens and hair, which can pose a problem for future tenants who may be sensitive to allergies.

Talking about the risks, one that has really become a problem for the landlords is the so-called zoo effect, where a tenant initially moves in with one small pet.

But, over time, it gradually increases and accumulates more animals without your knowledge. This can lead to excessive wear on the property, noise complaints, and sanitation issues.

How to Protect your Property While Allowing Pets

The key to a successful arrangement is setting clear rules and expectations from the start. Begin by defining the pet policies in detail, including restrictions on breed, size, age, or the number of animals allowed.

Some landlords choose to set age limits for the pet along with breed restrictions (such as banning pit bulls, rottweilers, or dobermans). Remember that younger animals cause more damage than older ones.

Remember that emotional support animals and service animals are legally protected and cannot be subjected to the same restrictions or additional fees as pets.

Screening tenants is essential, but screening pets is also mandatory. Ask for detailed information about the animal, including vaccination records, photos, and proof of obedience training.

Include a pet addendum in your lease that talks about the tenant’s responsibilities, the terms of pet rent or deposit, and the rules regarding pet care and control.

This clause should also mention the process of adding a new pet during the lease term. Consider conducting a professional inventory before move-in and after move-out to document the conditions of the property.

Final Thoughts

Allowing pets in your rental property does not have to be an all-or-nothing decision. You need to balance the benefits with the potential risks by taking a thoughtful approach. You can make a well-informed choice that supports both your property’s value and the rental income.

Proper screening of pets can solve many of your concerns and also gives you the chance to approve pets on a case-by-case basis, making sure that you are comfortable with each tenant and their animals before granting anyone permission.

Additionally, you should discuss a fair deposit, pet rent, and clear policies so that it will be manageable for you to allow the pet and also benefit from them.

Today’s rental market is already crowded, and people are actively looking for a nice place to live with their pets. When you open your gates to them, you have a better chance of having better tenants and a shorter void period.

And if you need help with anything related to property management, Mosaic Services is always here to make the process easy for you.