Property management need not be a gamble all of the time. Landlords already have a lot of things to worry about these days with tenants. For example, the qualifications and creditworthiness of said tenants can often dictate who pays on time and who gets an eviction notice. The reliability of tenants to pay on time is another common worry. Then there are the underlying factors, like how neighborly are your tenants and are they friendly or a nuisance to those who live nearby them?
These are but a few of the many concerns that landlords have to worry about when trying to get a good night’s sleep. After all, that rent check arriving in a timely manner is what ultimately pays your bills. So when it comes to allowing pets in your rental, it is important to question the associated pros and cons appropriately.
Pros of Allowing Pets In Your Rental
- A number of pros exist when considering allowing pets in your rental
- You can limit the size of the pets to reduce any potential damage
- You can increase rent on a per pet basis.
- You can attract a larger demographic of tenants
- You can restrict certain breeds to reduce risk
- You can mandate nonrefundable deposits
- You can charge more for rent with each added pet
Cons of Allowing Pets in Your Rentals
- Along with the pros there are also some caveats, or cons, associated with allowing pets in your rentals
- Pets can cause thousands of dollars of damages
- Pets can increase your liability risk from bites
- Pet owners are sometimes not good about cleaning up after their pets
- Pet odors can be very difficult to get rid of
- New carpeting and paint will be necessary upon tenant move-out
- Pets can often destroy backyards
The Decision
Ultimately, this decision is entirely up to you. It is important that you carefully weigh the pros versus the cons when considering whether or not you should allow pets in your rentals. You may find that it makes sense. Or you may deduce that it’s easier to not deal with the hassle.
