It is crucial to take the time to consider what you want the pet policy in your rental properties to be. There are certainly pros and cons of allowing tenants with pets to rent your property. Understanding these various pros and cons can help you to make the best decision for your situation and your property. Here are some of the advantages and disadvantages of allowing pets in your property.
Pros of Allowing Pets
It is important to keep in mind that the majority of households in the United States have pets. If you forbid pets on the property, you are substantially reducing your possible tenant pool. However, if you allow pets, there will be many more options when it comes to renting out your property. You can charge higher rent when you allow pets in the property. Tenants tend to be happier and more satisfied in general when they are allowed to keep pets in their home. Individuals that own pets tend to stay in one place for longer, which provides longer tenancies and fewer vacancies. It is always possible that tenants will still attempt to sneak pets in if you forbid them, so allowing pets can reduce the likelihood of this happening.
Cons of Allowing Pets
Most landlords that don’t allow pets choose to do so because of the increased possibility of damage to the property. It is also possible that the presence of pets will cause noise and disruption to the individuals that reside near the property. There is an increased risk of liability when you allow pets, especially if a pet injures another tenant. Ultimately, the decision of whether to allow pets on your property is entirely up to you. There are both pros and cons to either option, so it is important to take this into account when you devise your own pet policy. To learn more about the advantages and disadvantages of allowing pets on your property, as well as to obtain information regarding how to mitigate the risks of allowing pets on your property, contact us at the Keyrenter in Solano today!