Increased Property Values
The possibility of increasing the value of your rental property is one of the most important justifications for allowing pets. Studies show that houses that allow pets to stay appreciate more quickly than houses that do not. Additionally, those who are looking to buy a home typically prefer those that include pet-friendly amenities like pet doors, fenced yards, etc. Renting a home that allows pets could increase its value.
Shorter Vacancies
Pets are another way to attract more renters to your house. According to a recent survey, in fact, more than half of all renters stated they would be more inclined to rent from a landlord that allows pets. This suggests that permitting pets in your rental property will likely reduce the length of vacancy.
Fewer Repair and Maintenance Issues
Contrary to what many people think, tenants with pets are less likely than tenants without pets to harm your property. This is because renters who have pets are typically already more conscientious occupants. Many pet-owning tenants are familiar with the responsibilities of pet maintenance and are likely to apply the same standard of care to the rental property.
Increased Security
It may increase your home’s security, which is another persuasive argument in favor of allowing tenants to keep pets. Studies indicate that properties with animals have lower rates of burglary and vandalism. This is likely because criminals are less likely to target homes with pets.
Improved Tenant Health
Last but not least, allowing tenants to own pets can be quite beneficial to their well-being. Stress, blood pressure, and cholesterol levels have all been shown to decrease when people have pets. Additionally, they can help boost social interaction and physical activity. All of these factors contribute to the fact that tenants with pets tend to be healthier than those without.
Evidently, there are numerous compelling reasons to allow tenants to have pets in your rental property. If you’ve been wondering whether to accept pets or not, this list might have persuaded you to give it a try! Both your tenants and your property will value it.
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!