Increased Property Values
The possibility of increasing the value of your rental property is one of the most important justifications for allowing pets. According to studies, pet-friendly properties appreciate more quickly than properties that do not allow pets. Additionally, buyers usually look for homes with pet-friendly amenities like pet doors, fenced yards, etc. Renting a home that allows pets could increase its value.
Shorter Vacancies
The appeal of your house to potential renters can also be boosted by allowing animals. Actually, more than half of all renters said they would be more likely to rent from a landlord who permits animals, according to a recent survey. This implies that permitting pets in your rental property will likely lower vacancy time.
Fewer Repair and Maintenance Issues
Contrary to popular assumption, tenants with pets are less likely than those without pets to harm your property. This is due to the fact that tenants with animals tend to be more responsible renters, to begin with. Many tenants who own pets are aware of the responsibilities involved in pet care and are likely to treat their rental home with the same level of respect.
Increased Security
It may increase your home’s security, which is another persuasive argument in favor of allowing tenants to keep pets. According to studies, the prevalence of crimes like burglary and vandalism was lower in homes with pets. This is likely because criminals are less likely to target a home with an animal companion present.
Improved Tenant Health
Lastly, allowing tenants to own pets can also be very beneficial to their overall well-being. There is evidence that pets reduce anxiety, blood pressure, and cholesterol levels. They can also help to promote more social interaction and physical activity. For all of these reasons, residents with pets tend to be in better health than those without.
As you can see, there are many persuasive arguments in favor of allowing tenants to keep pets in your rental home. The following list might have persuaded you to allow pets if you were on the fence about it. Your tenants and your property will be grateful.
Do you want advice from a professional on how to make your rental home more pet-friendly? Contact your local Real Property Management office today!