Should I Allow My Tenants to Have Animals?

Should I Allow My Tenants to Have Animals?

One of the toughest questions is that should I allow my tenants to have animals? Being a landlord is an excellent way to make extra money. However, there are many decisions that a landlord must make, and one of those choices is whether to allow animals at your property. Sure, dogs and cats can cause thousands of dollars in damages, but many well-behaved pets are like an addition to the family. Since only 55 percent of landlords allow animals, it may be time to put them on the lease, as offering pet-friendly units can give you an edge over your competition.

Should I Allow My Tenants to Have Animals: Animal Damage

Certain types of pets, like cats, dogs, and birds, can destroy a home. They can urinate on the carpets, chew up linoleum and trim, and leave an abode with a noticeable odor. Noise is often a complaint with these pets, too.

However, not all animals are so destructive. Small animals can actually be ideal pets for apartments since they don’t take up much space and stay inside their cage or tank. For example, leopard geckos, a popular pet reptile, only need a 3’ long cage, and will get sick if they spend too much time outside of their cage. Betta fish are a popular pet fish that can be housed in just 5 gallons of water, so you don’t have to worry about water damage if it accidentally falls over.

Many landlords who ban pets find that their tenants sneak them in anyway. Instead, encourage a more open dialogue with your tenants. Instead of banning, why not charge a monthly deposit or an additional charge on the monthly payment to offset the potential damage? Plus, you might be pleasantly surprised to know good tenants will care for their pets as well as they do their children. References are key. Talk to previous landlords and make sure the renter not only paid their rent but also that their pet didn’t leave behind any damages.

Should I Allow My Tenants to Have Animals: Focus On The Rental Agreement

You can broaden your pool of potential renters by simply allowing pets. When you permit animals to be brought to the home, you must be very clear in your contract or rental agreement. The rules will protect you should you ever need to collect money for pet-related damages. Before allowing pets, make sure to prepare a rental agreement that outlines pet regulations ahead of time.

Potential for Higher Retention and Lower Vacancy

In many areas, the rental markets are competitive. If you allow residents to have pets, then you can decrease your vacancy loss. When you have pet-friendly rentals, this can increase your tenant pool. Also, by charging a deposit and monthly fee, you can make more money from the property. Since most renters consider their animals as part of the family, they wouldn’t dream of moving to a place that doesn’t allow them. Did you know that 67 percent of all households in America have a pet? If you don’t allow pet owners, then you could be losing out on rent.

There are risks to having pets in a rental property. However, if you clearly put stipulations in the contract and make the tenant stick to those guidelines, in most cases, things end fine. Get references, and make sure your tenant takes care of their pets, and all will be well.

If you need help getting good tenants for your property, take advantage of our tenant placement services!

 Steelbridge Realty LLC  is a Licensed Real Estate Brokerage that utilizes cutting-edge marketing techniques and data-driven Real Estate solutions in today’s ever-changing environment. Our group of professionals have decades of experience and have navigated through many business cycles. Our diverse background gives us the tools to guide people towards successful decisions.

 

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$249,000
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$249,000
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Pending
4
BED
2
TOTAL BATHS
1905 Oakley Ave
Fort Myers, FL 33901
PALMLEE PARK Subdivision
$124,900
Multi-Family For Sale
Active
3
BED
2
TOTAL BATHS
2823 Meadow Ave
Fort Myers, FL 33901
FORT MYERS Subdivision
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FORT MYERS Subdivision
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TOTAL BATHS
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FORT MYERS Subdivision
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BED
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2326 Stella St
Fort Myers, FL 33901
LOVEJOY PARK Subdivision
New Listing - 3 weeks online
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Multi-Family For Sale
Pending With Contingencies
4
BED
2
TOTAL BATHS
Evans Avenue Heights #2921
2919 Cocos Ave 2921
Fort Myers, FL 33901
Price Change - 3 weeks ago
$540,000
Multi-Family For Sale
Active
5
BED
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TOTAL BATHS
2135 Hoople St
Fort Myers, FL 33901
FORT MYERS Subdivision
$165,000
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Active
4
BED
4
TOTAL BATHS
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FORT MYERS Subdivision
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BED
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TOTAL BATHS
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Fort Myers, FL 33916
FORT MYERS Subdivision
New Listing - 2 weeks online
$320,000
Multi-Family For Sale
Pending With Contingencies
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BED
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TOTAL BATHS
1303 SE 23rd Pl
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CAPE CORAL Subdivision
$335,000
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Pending With Contingencies
6
BED
4
TOTAL BATHS
1019/1023 SE 24th Ave
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CAPE CORAL Subdivision
New Listing - 3 weeks online
$569,000
Multi-Family For Sale
Active
8
BED
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TOTAL BATHS
Cape Coral #1-4
1107 SE 23rd Pl 1-4
Cape Coral, FL 33990
Price Change - 2 weeks ago
$310,000
Multi-Family For Sale
Active
8
BED
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TOTAL BATHS
3041 Second St
Fort Myers, FL 33916
BARDEN SUBDIVISION Subdivision
$139,000
Multi-Family For Sale
Pending With Contingencies
4
BED
4
TOTAL BATHS
5462 10th Ave
Fort Myers, FL 33907
PINE MANOR Subdivision
New Listing - 6 days online
$2,657,214
Multi-Family For Sale
Active
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BED
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TOTAL BATHS
Prima Luce #1201/02/03/04E
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Multi-Family For Sale
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Pending With Contingencies
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BED
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TOTAL BATHS
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CAPE CORAL Subdivision
$214,900
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Pending With Contingencies
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BED
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TOTAL BATHS
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TRADEWINDS Subdivision
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Multi-Family For Sale
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BED
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TOTAL BATHS
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CAPE CORAL Subdivision
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BED
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TOTAL BATHS
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1901 SE 15th Pl A-B
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