The decision to offer a pet-friendly rental home in Westlake Village or not can be a challenging one. There is a whole renter demographic for pet-friendly rental properties that you can take advantage of. Having said that, there are also a number of downsides to allowing tenants to keep pets on your rental property. Before deciding on offering your rental as a pet-friendly option, you must take the advantages and disadvantages into consideration.
According to the American Pet Products Association (APPA), 68% of U.S. households include one or more pets. With Americans owning more than 90 million dogs and 94 million cats, it is clear that pet owners outnumber non-pet owners by a fair margin. Narrowing that number to include just renters, roughly 50% are pet owners. Moreover, 35% of those who are not said they were likely to get a pet if their lease allowed it.
Given these statistics, property owners can do the math. A pet-friendly rental offering could mean an increased demand for your property. You could then increase the monthly rent as well as charge pet fees. When you look at it from a financial perspective, these are great reasons to let pets onto your rental property
On the other hand, allowing pets in your rental home also means you may have a whole new set of potential problems. The biggest risk of which is the risk of property damage. Pets can damage homes and yards. Even well-behaved animals are not an exception. Dogs dig holes, chew doors and trim, and claw walls and doors, while cats scratch and mark furniture and floors. If your pets are anxious or untrained, they are more likely to cause damage to carpets and wood through urination or other behaviors. Animal urine can soak into wood trim, carpet pad, and drywall, creating a nasty odor and unsanitary conditions. Property owners who allow pets tend to have more repairs and maintenance costs.
As the property owner, it is helpful to encourage tenants to take preventative measures against property damage. The first step is usually to require a pet deposit. A lot of tenants will be willing to pay an additional fee if it means keeping their beloved pets. Providing tenants with instructions and information about protecting the home from pet damage is also a good idea. Basic strategies like making a scratching post for a pet cat or using enzymatic cleaners on urine spots can help reduce certain types of damage.
Encouraging tenants to clean up after their pets is also a good idea. This would include emptying their litter boxes as well as housebreaking their dog. Also, if you observe that your tenant’s pet is showing signs of anxiety or boredom, ask your tenant if they would consider a pet sitter or daycare situation. These are some strategies to protect your rental property and, at the same time, allow your tenants to keep a pet.
Letting tenants keep pets in your rental home may also have a potential impact on future tenants. There are tenants who are allergic to animals and might not be willing to rent a house that has had pets in it. Pet dander can be challenging to remove completely and can cause annoying allergy symptoms in sensitive individuals.
Should you allow pets on your property, make sure you clean the house correctly before you take in a new tenant. All interior surfaces should be washed, or steam cleaned, if possible, and a quality vacuum with a HEPA filter should be used to remove any pet hairs and debris. Make sure that you also clean your home’s air ducts and replace all filters. This may seem like an additional expense, but it won’t be if you’ve calculated your pet fee correctly to cover it.
You have to consider many things if you decide to offer pet-friendly rentals. Make sure you understand your rental property’s location and target demographic so you can make the decision that is right for you. If you need help getting to know the local market and managing your rental, contact us online, and the team at Real Property Management Limitless would love to be of service to you.
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