There are many reasons why landlords should permit tenants to keep pets in rental properties. Most San Diego property managers consider the benefits of allowing pets, such as the ability to charge pet deposits and higher rent. Here are five compelling reasons to allow your tenants to keep their pets!
1. Higher Property Values
Allowing tenants to keep pets is one of the best ways to increase the value of your property. According to studies, pet-friendly properties appreciate at a faster rate than those that do not. What’s more, pet-friendly features such as pet doors, fenced yards, and other properties are frequently sought by property buyers. This may result in a higher valuation for a pet-friendly rental property.
2. Shorter Vacancies
Allowing pets in your rental can also increase the appeal of your property to potential renters. According to a recent survey, nearly half of all renters say they are more likely to rent from a landlord who allows pets. This implies that allowing pets in your rental property will likely result in shorter vacancy periods.
3. Fewer Repair and Maintenance Issues
Contrary to popular belief, renters with pets are less likely to cause property damage than those who do not have pets. It is because tenants with pets are usually more responsible. Many pet-owning tenants understand the responsibilities of pet care and are likely to apply the same standard of care to their rental home.
4. Increased Security
Permitting tenants to keep pets can also improve your property’s security. Studies have shown that properties with pets have lower crime rates, such as burglary, vandalism, etc. This is most likely because criminals are less prone to target a property where a pet is present.
5. Improving Tenant Health
Lastly, allowing renters to have pets can improve the health of your tenants. Stress, blood pressure, and cholesterol levels have all been shown to decrease with those who have pets. They can also help with social interaction and physical activity. For all of these reasons, pet-owning tenants are generally healthier than those who do not.
As you’ve seen, there are lots of benefits in allowing tenants to keep pets in their rental property. If you’ve been debating whether or not to allow pets, this list may have convinced you to give it a shot! Your tenants and property will appreciate it.
Would you like an expert opinion on making your rental property more pet-friendly? Contact Real Property Management Realevate Refined today!
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