Are you considering allowing pets in your rental properties but unsure about the implications? Here are some compelling reasons why you should embrace pet-friendly policies:
- Increased Interest and Applications: With approximately 70% of Americans owning pets, allowing pets into your rental properties can significantly increase interest and the number of rental applications. This can lead to shorter vacancy periods, ensuring a quicker influx of rental income.
- Flexibility in Restrictions: If you have specific preferences regarding pet types or sizes, such as only allowing small dogs or cats, property management services like Real Property Management Select can accommodate these restrictions. You can also implement monthly pet fees and increased security deposits for added protection.
- ESA and Service Animal Considerations: While additional fees and deposits may not apply to emotional support animals (ESAs) or service dogs, property management services adhere to fair housing regulations. This means that tenants with ESAs or service animals cannot be discriminated against based on their pet type or breed.
- Pet Damage Guarantee: Real Property Management Select offers a pet damage guarantee, providing coverage for up to $1,000 of pet-related damages beyond the original security deposit. This ensures landlords have additional financial protection in case of pet-related property damage.
- Tenant Retention: Allowing pets can increase the likelihood of tenants signing another lease at the end of their initial term. Many pet-owning tenants prefer to stay in pet-friendly properties to avoid the hassle of finding another suitable rental that accommodates their furry companions.
By screening pets thoroughly and implementing pet-friendly policies, allowing pets in your rental properties doesn’t have to be a source of stress. With the support of our property management services, landlords can enjoy the benefits of pet-friendly rentals while mitigating potential risks.
If you’re considering embracing pet-friendly policies in your rental properties, reach out to Real Property Management Select for expert guidance and support throughout the process.