There are plenty of grounds why West Fargo landlords should allow tenants to have pets in rental properties. Before deciding whether to allow animals, the majority of landlords consider advantages such as the ability to charge pet deposits and higher rent. Single-family rental property owners should be aware of other, unanticipated benefits to allowing pets. Here are the strongest 5 reasons for letting tenants keep pets in your rental property.
Increased Property Values
It can raise the value of your property, which is one of the most important justifications for allowing dogs among tenants. Studies show that pet-friendly properties increase in value more quickly than non-pet-friendly ones. Additionally, buyers of real estate typically look for homes with amenities for pets, such as pet doors, fenced yards, etc. Rental real estate that accepts pets may ask for more money.
Shorter Vacancies
Additionally, allowing pets can increase the desirability of your property to potential tenants. Actually, more than half of all renters said they would be more likely to rent from a landlord who permits animals, according to a recent survey. This suggests that permitting pets will probably shorten the time your rental property is vacant.
Fewer Repair and Maintenance Issues
Contrary to popular assumption, tenants who have pets are less likely to damage your property than tenants who don’t. This is due to the fact that pet-owning tenants are frequently more responsible renters, to begin with. The majority of tenants who own pets are aware of the responsibilities involved in pet care and are likely to take the same amount of care with their rental home.
Increased Security
It may increase your home’s security, which is another persuasive argument in favor of allowing tenants to keep pets. According to research, burglaries and acts of vandalism were less common on properties with animals. This is likely because criminals are less likely to target homes with pets.
Improved Tenant Health
Lastly, allowing tenants to own pets can also be very beneficial to their overall well-being. Stress, blood pressure, and cholesterol levels have all been shown to decrease when people have pets. Additionally, they may help to promote more social interaction and physical activity. All of these factors contribute to the fact that tenants with pets tend to be healthier than those without.
As you can see, there are a lot of compelling reasons to let tenants keep pets in your rental home. If you’ve been contemplating whether or not to allow pets, this list may have convinced you to give it a shot! Both your tenants and your property will value it.
Do you want advice from a professional on how to make your rental home more pet-friendly? Contact your local Real Property Management office today!
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