There are lots of reasons why landlords should allow tenants to keep pets in their rental homes. When deciding to allow pets, most Atlanta property managers consider benefits such as the ability to collect pet deposits and charge higher rent. Here are the top five reasons why you should allow your tenants to keep their furry companions!
1. Higher Property Values
Enabling tenants to keep pets increases the value of your property, which is one of the best reasons to do so. Studies have shown that pet-friendly properties appreciate at a faster rate than those that are not. In addition, property purchasers frequently look for pet-friendly features, such as pet doors, fenced yards, etc. A pet-friendly rental property may be worth more than it would otherwise.
2. Shorter Vacancies
Allowing pets can also increase the appeal of your property to potential renters. In fact, almost half of all renters say they’d prefer to rent from a landlord who allows pets, says a recent survey. This means that allowing pets in your rental property is likely to reduce the length of rental vacancies.
3. Fewer Repair and Maintenance Issues
Pet-owning tenants, contrary to popular belief, are less likely to damage property than those who don’t own pets. This is because pet-owning tenants are typically more responsible tenants. Many pet-owning tenants are aware of the responsibilities of caring for a pet and are likely to apply the same level of care to their rental home.
4. Increased Security
Allowing tenants to keep pets is also a good way to improve the security of your property. Based on studies, properties with pets have lower crime rates, such as burglary, vandalism, and other crimes. This is likely due to the fact that criminals are less inclined to target a property that contains a pet.
5. Improving Tenant Health
Finally, permitting tenants to keep pets can assist with their health. There is evidence that pets reduce stress, blood pressure, and cholesterol. Additionally, they can increase physical activity and social interaction. Tenants who have pets are generally healthier than those who do not because of these reasons.
As you have seen, there are multiple compelling reasons to permit tenants to keep pets in your rental property. If you’ve been on the fence about allowing pets, perhaps this list has convinced you to give it a chance! Both your tenants and your property will thank you for it.
Would you like an expert opinion on making your rental property more pet-friendly? Contact Real Property Management Greenway today!
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