There are numerous reasons why landlords should allow tenants to keep pets in their rental units. Most Ellicott City 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
One of the most compelling arguments for allowing tenants to keep pets is that it can increase the value of your property. According to studies, pet-friendly properties appreciate more quickly than non-pet-friendly properties. In addition, property purchasers frequently look for pet-friendly features, such as pet doors, fenced yards, etc. This can increase the value of a pet-friendly rental property.
2. Shorter Vacancies
Furthermore, allowing pets can increase the desirability of your property to prospective renters. According to a recent survey, nearly half of all renters say they are more likely to rent from a landlord who allows pets. When you allow pets in your rental property, you are more likely to reduce the length of rental vacancies.
3. Fewer Repair and Maintenance Issues
Contrary to popular belief, less damage will be caused to your property by tenants with pets than tenants without pets. This is due to the fact that pet-owning tenants tend to be more responsible. Since many pet owners know the responsibility when caring for a pet, they are more likely to apply that same level of care in their rental home.
4. Increased Security
Letting tenants keep pets is also beneficial to your property’s security. 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 likely to target a property containing a pet.
5. Improving Tenant Health
Finally, allowing tenants to keep pets can improve their health. Stress, blood pressure, and cholesterol have all been shown to be reduced by pets. They can also help you get more exercise and social interaction. Tenants who have pets are generally healthier than those who do not because of these reasons.
As you can see, there are numerous advantages to allowing tenants to keep pets in their rental property. If you’ve been discussing whether or not to allow pets, perhaps this list has inspired you to try it! 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 Prime today!
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