Allowing Pets in Rental Properties – What Are The Advantages
Most pet owners consider their pet as family, and won’t even consider an apartment that would require them to give their beloved animal up. When you think about how many potential tenants are looking for a rental property that will accept pets, it may be worth your while to welcome furry, four-legged creatures. Take a look at our guide outlining the benefits of allowing pets in your rental property.
Pros to allowing pets in rental properties
There are several positives to establishing a pet-friendly property:
Market value determines the amount you can set your rent. By allowing pets in rentals (large dogs in particular) especially when very few properties in your neighborhood are pet-friendly, you may be able to command a higher rent. At the very least, it could give you a leg up on the competition if a decision comes down to your property and a similar one which doesn’t allow pets. Check out this article on landlords charging for pet fees.
The more a tenant considers an abode their home, the more likely they are to renew a lease. Certainly, settling in with a pet can make a rental feel like a permanent residence. Additionally, The Balance points out that it can be harder for pet owners to find alternate dwellings that will take both them and their pet. So allowing pets equals longer tenure.
Larger pool of applicants
Pet ownership is at an all-time high. If your rental property is marketed towards a younger market, there’s an even higher likelihood that a pet is part of the package. Allowing pets attracts more tenants to your property and gives you more tenants to choose from, so you can find the best fit.
Responsible pet owners are more likely to be responsible tenants
As we all know, taking care of a pet requires a lot of time and attention. What does this mean? There is a likelihood that behavior will translate into renters treating your property with the same amount of respect and energy.
Decreased chance of unknown pets
Tenants are more likely to be upfront about their pets if you allow them from the start. You’ll have fewer instances of tenants sneaking pets onto the property and will be aware of the type and number of pets living on-site.
As outlined above, allowing pets in your rental property has numerous benefits. Higher rent. Longer Tenure. Larger pool of applicants. Respoinsible pet owners are more likely to be responsible tenants. Decreased chance of unknown pets.
For more information on pets in rental properties in Ireland, check out our other article. Finding Pet-Friendly Rentals in Ireland.