Should your property be pet friendly?

A while back on the Tenant File Property Management Software Blog we covered the things you need to be aware of when you’re screening pet owners as potential tenants (check it out here). Now, don’t think that making your property pet friendly is going to cause you problems! There are quite a few benefits to allowing your tenants to bring their furry friends as roommates.

Landlords constantly question whether or not they should make rental properties pet friendly. Though many agree that this just opens the door for destruction of property, there are benefits that come with allowing tenants to have pets. If you limit yourself to only allowing people with no dogs or cats, your pool of possible tenants is significantly smaller. It is no secret that most pet owners are very fond of their four-legged friends; they become like children to them, feeding and loving them, and most importantly giving them a home. Because the owners also act as parents in a sense, you know that they’re responsible and capable of taking your home. You won’t have to worry about the house being destroyed. This also brings up the issue of the security deposit, something that definitely works to the landlords advantage. If you allow pets you’re entitled to asking for a bigger security deposit (kind of like a pet fee) or even ask for a bit more monthly rent.

The question of pets or no pets becomes a huge ultimatum for potential tenants- they aren’t going to make the move if their pet can’t too. Being a pet-friendly rental property gives you a huge advantage in the market because many properties do not allow pets so they’re automatically written off as an option to those looking to move. Though it is a big decision to make, making your property pet friendly is definitely you should consider!