Should You Allow Pets in a Rental Property?

Should You Allow Pets in a Rental Property?

Did you know that around 70% of US households have a pet? Unfortunately, this can pose a dilemma for landlords everywhere. 

Pets are known for causing havoc, ruining carpets, and causing general damage to properties. The house owner can usually absorb the costs of this, but what about when the property is a rental? 

If you're trying to decide whether to allow pets in a rental property you own, you've come to the right place. We're here to tell you everything you need to consider before making a decision. 

Read on to find out more. 

Why You Should Allow Pets

Although it's easy to check the 'no pets allowed' box on any rental listing, you should realize that there are some significant benefits to allowing pets. First, you're able to charge a higher rental value as properties that allow pets (particularly dogs) are in high demand. 

Additionally, you'll have a larger pool of applicants to choose from and have a greater chance of finding the perfect tenant. Once these tenants are settled in, a pet can help them feel like the property is their home, and they're more likely to renew the lease. 

Remember, if someone has service or support animals, you may need to allow them by law.

Why You Shouldn't Allow Pets

Unfortunately, allowing pets can sometimes be more hassle than it's worth. Pets are notorious for causing damage, noise, and unpleasant odors.

You may get complaints from other neighbors or be left with a hefty bill at the end of the tenancy if the tenant disputes the damage their pet caused. 

Navigating the legal system for pet damage can be difficult, and you could end up out of pocket. 

The Best Approach

Luckily, there are ways to reap the benefits of allowing pets while eliminating the risk of damage and additional costs. 

If you're reluctant to allow pets, make sure to assess on a case-by-case basis. For example, a goldfish is unlikely to be a problem, whereas a dog could cause havoc.

You can write extra pet-related clauses into the rental contract that protect you from damages. Also, consider charging monthly pet rent, pet fees, or increasing the tenant's deposit. Ensure you do thorough tenant screening and inquire about pet problems with their provided references.

Overall, you need to ensure that you are protected legally, and the property is adequately maintained. This is why it's best to hire property management services; property management professionals know the law inside-out and deal with rental property pets every day. 

You can trust that your property is in safe hands when you pass the hard work over to property management professionals. 

Pets In a Rental Property? It's Possible! 

That's your brief guide to the pros and cons of allowing pets in a rental property. Allowing pets can have some significant benefits, but you need to ensure you're protected. 

At InBusiness Real Estate, we're trained to provide bespoke services and manage all of your property needs without fault. 

If you're a landlord looking for support, contact us today for a no-obligation conversation about how we can assist in your Real Estate journey! 

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