Animals bring happiness and connection into our lives. For many, they are more like family members than pets. That is probably why more than 50% of families in Georgia have at least one pet in their household!
But, finding places that accommodate pets can be difficult. It can also be challenging for landlords to choose whether to let them stay.
This article outlines some pros and cons of allowing pets in a rental property. This can help you make the best decision for your tenants and also for your business.
Pros of Allowing Pets in a Rental Property
Becoming a pet-friendly property is a big decision with many positives to it. Read on to find out a few of the biggest pros!
Boosted Rental Opportunites
Most pet owners know the challenge of finding accommodation that accepts furry friends. Because of this, people may choose your apartment even if it is more expensive.
They are also much more likely to sign a longer lease. This is great for landlords, as it reduces vacancies, increasing your overall rental income.
Better Tenant Satisfaction
Accepting pets is sure to improve your relationship with your tenants. They'll be grateful for the opportunity to keep their animals close to them.
It is also more inclusive for those who may have disabilities or additional needs. These tenants often have support animals who need to live with them.
So they will be very happy and satisfied if you provide a safe place for them and their beloved companion.
Cons of Having Pets in a Rental Property
Although it may seem like a good choice to allow pets, there are a few other things you need to consider. Without thinking it through, you could find yourself in a difficult situation.
Property Damage and Cleaning
Pets are notorious for damaging rental properties, even when owned by responsible tenants. They might scratch, chew, or stain the property, resulting in expensive repairs.
It will also increase the amount of cleaning that needs doing. Allergies to fur and odors are common problems that come with allowing pets.
The likelihood of damages happening may also increase your insurance premiums. To compensate for this, you can charge pet fees to cover the extra costs.
Complaints From Other Residents
Noisy pets are a source of huge frustration in many rental properties. They disturb other tenants, which often leads to conflicts and complaints.
Some animals may also be the cause of injury or damage to other parts of the community or other tenants. This has financial and legal implications. So take care that your insurance covers these liabilities.
If in doubt, work with a property manager. They will have a deep knowledge of local regulations about pets in rental properties.
Making Your Final Decision
Weighing the pros and cons of accepting pets in a rental property can seem challenging. But thinking through the points above will help to make the choice clearer either way.
Here at PMI Mountain Gateway, we are no strangers to tough landlord decisions. Luckily, we have the experience and expertise to help you figure out what is best for your business.
We also offer a wide range of property management services to make your life easier! Get in touch to organize your free rental analysis today!
