Increased Property Values
It can raise the value of your property, which is one of the most important justifications for allowing dogs among tenants. Studies show that houses that allow pets to stay appreciate more quickly than houses that do not. Moreover, property purchasers frequently search for homes with pet-friendly features, such as pet doors, fenced-in yards, etc. A rental home that allows pets may charge more money than it normally would.
Shorter Vacancies
Additionally, allowing pets can increase the desirability of your property to potential tenants. A recent survey revealed that, in reality, more than half of all renters would be more inclined to rent from a landlord that allows animals. This suggests that permitting pets in your rental property will likely reduce the length of vacancy.
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 renters who have animals are typically more trustworthy tenants in general. Many renters who own pets are aware of the responsibilities associated with pet care and are inclined to give their rental home the same amount of attention.
Increased Security
Another compelling reason to allow tenants to retain pets is that it may enhance the security of your home. Studies show that the prevalence of crimes like burglary and vandalism was lower in homes with pets. This is most likely a result of the decreased likelihood of criminals targeting a residence when they are aware that a pet is present.
Improved Tenant Health
The last point is that enabling tenants to keep pets can be very beneficial to their well-being. There is evidence that pets reduce anxiety, blood pressure, and cholesterol levels. Additionally, they can help boost social interaction and physical activity. For all of these reasons, residents with pets tend to be in better health than those without.
There are, as you can see, a lot of good 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.
Want an expert’s opinion on how to make your rental property more pet-friendly? Contact your local Real Property Management office today!