Increased Property Values
It can raise the value of your property, which is one of the most important justifications for allowing dogs among tenants. Studies show that pet-friendly properties increase in value more quickly than non-pet-friendly ones. Moreover, property purchasers frequently search for homes with pet-friendly features, such as pet doors, fenced-in yards, etc. A rental home that allows pets may charge more money than it normally would.
Shorter Vacancies
Pets are another way to attract more renters to your house. A recent survey revealed that, in reality, more than half of all renters would be more inclined to rent from a landlord that allows animals. This indicates that permitting pets in your rental property will likely reduce vacancy duration.
Fewer Repair and Maintenance Issues
Contrary to conventional belief, tenants with pets are less likely to cause property damage than those without pets. This is due to the fact that pet-owning tenants are frequently more responsible renters, to begin with. The majority of tenants who own pets are aware of the responsibilities involved in pet care and are likely to take the same amount of care with their rental home.
Increased Security
Another compelling reason to allow tenants to retain pets is that it may enhance the security of your home. Studies show that the prevalence of crimes like burglary and vandalism was lower in homes with pets. This is most likely a result of the decreased likelihood of criminals targeting a residence when they are aware that a pet is present.
Improved Tenant Health
Finally, enabling tenants to have pets can have positive effects on their well-being. Stress, blood pressure, and cholesterol levels have all been shown to decrease when people have pets. Additionally, they may help to promote more social interaction and physical activity. Due to all of these factors, tenants who have pets tend to be healthier than those who do not.
Evidently, there are numerous compelling reasons to allow tenants to have pets in your rental property. If you were on the fence about allowing pets, maybe this list has persuaded you to give it a try! Your property and tenants will appreciate it.
Do you want a professional’s advice on how to make your rental home more pet-friendly? Contact your local Real Property Management office today!