There are several reasons why landlords should permit tenants to keep pets in their rental properties. Most Ruskin property managers consider advantages such as the ability to charge pet deposits and higher rent before deciding to allow pets. Here are five strong arguments to let your tenants keep their pets.
1. Higher Property Values
Allowing tenants to keep pets can increase the property’s value, which is one of the best reasons to do so. Studies have shown that pet-friendly properties tend to appreciate faster than those that do not. What is more, property buyers frequently seek out properties with pet-friendly features, such as pet doors, fenced yards, etc. This can increase the value of a pet-friendly rental property above what it would be otherwise.
2. Shorter Vacancies
Additionally, allowing pets can make your rental property more appealing to prospective renters. In fact, nearly half of all renters say they would prefer to rent from a landlord who allows pets, according to a recent survey. This indicates that allowing pets in your rental property is likely to reduce the length of a vacancy.
3. Fewer Repair and Maintenance Issues
Despite popular belief, tenants with pets are less likely to cause property damage than those without pets. This is because tenants with pets are more likely to be responsible tenants. Many pet-owning tenants are aware of the responsibilities of providing for a pet and are likely to treat their rental property with the same level of care.
4. Increased Security
The security of your property can be enhanced by allowing tenants to keep pets. According to studies, properties with pets have lower crime rates, such as vandalism, burglary, and others. This is likely due to the fact that criminals are less likely to target a property containing a pet.
5. Improving Tenant Health
Lastly, permitting tenants to keep pets can improve their health. It has been demonstrated that pets reduce levels of stress, blood pressure, and cholesterol. They can also increase levels of physical activity and social interaction. Pet-owning tenants are generally healthier than non-pet-owning tenants for all of these reasons.
As you can see, there are numerous advantages to allowing tenants to keep pets in their rental property. If you’ve been discussing whether or not to allow pets, perhaps this list has inspired you to try it! Your property and your tenants will thank you.
Would you like an expert opinion on making your rental property more pet-friendly? Contact Real Property Management Freedom today!
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