A furry friend often makes life more fulfilling. Many people have pets that they consider to be part of their family. However, allowing them in your rental property takes serious consideration.
More and more people have pets as a part of their life. For a rental property, though, pets can pose more problems. As a property manager or landlord, you have to consider the pros and cons of allowing pets in a rental property.
Here is what all landlords and property managers should know.
Pros of Allowing Pets in a Rental Property
Many tenants, especially younger ones, have pets. Because of this, moving to a place that doesn't allow pets is often considered a dealbreaker.
Allowing pets into a residential property will expand your tenant pool, which increases your likelihood of finding a tenant. Also, having a pet is a big responsibility, you can also assume that pet-owning tenants will be responsible.
Pet-friendly properties can also charge higher rent because allowing pets can increase your market value. You can also charge a deposit and monthly fee for having a pet. It's also a good way to set yourself apart from the competition.
Cons of Allowing Pets in a Rental Property
With the many pros of allowing pets in a rental property, there are also cons. One of the biggest issues with allowing pets into a rental property is the potential damage.
Pets can scratch and rip floor carpeting, walls, and floors. They can chew on things, leave behind odors, and bring fleas or mites into the unit. This can ultimately cost you money to fix while the tenants live there or when they move out.
Pets can also lead to noise complaints. Dogs bark, cats run around, and birds squawk. This can become a nuisance to other tenants and neighbors.
Another issue is with allergens, especially with soft surfaces. This can be an issue for current and future tenants who are allergic to animals.
Should You Allow Pets?
As a property manager or landlord, you're well within your rights to set lease terms surrounding pets in the best way you see fit. Weigh the pros against the cons before making a decision. You could also restrict certain types of pets rather than ban pets outright.
It's also important to note that while you can ban pets, this does not include service or assistant animals. It is an illegal form of discrimination to ban service animals or evict a tenant because of a service animal.
Have an Effective Pet Policy
Proper property management will require you to weigh the pros and cons of the decisions you make. Allowing pets in a rental property is a big decision.
Ultimately, there is no right or wrong answer to whether or not to allow pets. It comes down to what is right for you as a property manager and what is right for the property itself.
PMI San Antonio is a leading full-service property management firm in the San Antonio real estate market, specializing in maximizing profitability. Contact us to learn more about our services!
