Being property owners in Troy, Michigan, you have various sensible reasons to allow your tenants to domesticate pets in your single-family rental home. Allowing pets increases the number of prospective tenants. It also reduces tenant turnover since pet owners have fewer pet-friendly property choices, particularly for renters who own dogs and large breeds. For most, a single-family home with a private yard is the sole option. This means many renters are willing to pay higher prices for pet-friendly housing. In order to maximize your revenue and minimize the expenses and hazards associated with allowing animals, make sure pet safety is a priority. An example for this includes pet safe landscaping. This smart investment prevents property damage and makes your property more appealing to cat and dog owners.
Pet Safe Landscaping Features to Include
Pet-friendly landscaping doesn’t need to be costly. All you need to do is focus on simple changes that give animals a more advantageous way to spend their energy without damaging any form of property. The recommended features for a rental home are as follows:
- Pick wood or gravel chips that don’t stick to long-haired animals and get transferred inside the home.
- Use organic herbicides, fertilizers, and pesticides on the plants and grass. No other else.
- Choose plant species that minimize flea infestations and are edible for dogs. Examples include blueberries, wheat grass, oat grass, lavender, rosemary, and mint. Never bring lily of the valley, monkshood, iris, and foxglove at home.
- Include plants that are able to resist urine such as Japanese spindle tree and Burkwoodosmanthus.
- Build a walking path on areas dogs usually pass. Use a sturdy material such as flagstone or decomposed granite to prevent dogs from destroying grass. You can also add “road blocks” on fence lines since dogs often patrol along the perimeters wearing the grass out.
- Dig a pit covered with cedar chips or pine straw. Tenants can hide toys and bones in the digging pit to train dogs that it’s a better place to dig rather than the yard.
Rent Increase for a Pet-Friendly Home
Studies show that tenants with pets are eager to pay higher rents and to stay longer in rental properties. Pet owners stay in a rental property for an average of 4 years. Meanwhile, non-pet owners stay only for 1 year and a half. Difficulty to find pet-friendly rentals is the primary reason of longer tenancy duration among pet owners. This means that pet owners usually have no other option but to stay or purchase a home. Although around half of all rental properties permit cats, only 9% of landlords allow huge dogs.
Single-family home marketing and preparation that welcome dogs on a widens your tenant supply. This also captivates renters who have such limited options. In condos and townhomes, pet-friendly units are almost always unavailable. So, they are aware that renting a house with a yard is the only option. Once you have prepared your home to accept pets, never fail to enforce additional charges in attracting pet owners. Most property owners showcase pet-friendly features of a home. These features may include digging pits, laminate flooring, and a yard assigned for animals. These are why rent comes at a higher price than a regular rental home.
“Pet rent” is an increasing trend among property owners. In this trend, landlords charge a monthly fee for the pets either with or without a pet deposit. But this method can be tricky. Often, landlords can legally include a pet rent fee per month if it’s a relatively low discretionary charge. It is safe to ensure that any advertisements for the property mention that there is an added charge when it comes to pet renting.
Drawbacks vs. Benefits of Welcoming Pets
Pet-induced damage is the most frequently raised issue from landlords. However, if property owners increase the security deposit and the rent premium, a pet-friendly property can effortlessly cover those additional costs. Landlords pay a yearly average of $150 for insurance on pet-friendly housing. This said the annual expense is less than the average premium from a one-month rent. Carrying out improvements to the home equipped to prevent damage can also minimize the damages caused by tenants’ pets. Pet-safe landscaping effectively protects the area where pets will spend most of their time. This also reduces damage risks to potentially expensive items like fencing.
What are the key areas to obtain the best value from your pet-friendly home? One would be impressive marketing to emphasize the features of your pet-friendly home. Another is accurate pricing to achieve profit optimization. Lastly, doing steps like pet zone constructions to reduce potential losses is another key area. Real Property Management Metro Detroit collaborates with property investors to provide comprehensive marketing, meticulous tenant screening, and full-service leasing services. Curious about learning how to maximize rent for your pet-friendly single-family home? Contact us online and talk to our team or Troy property managers about your needs.
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