There are lots of reasons why landlords should allow tenants to keep pets in their rental homes. A majority of the Spokane Valley property managers consider benefits such as the ability to charge pet deposits and higher rent when deciding whether or not to allow pets. Here are five strong arguments to let your tenants 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. Research shows that pet-friendly properties appreciate at a greater rate than non-pet-friendly properties. Moreover, pet-friendly features, such as pet doors and fenced yards, are frequently sought by property buyers. A pet-friendly rental property may be worth more than it would otherwise.
2. Shorter Vacancies
Permitting pets can help make your property more attractive to prospective renters. In fact, almost half of all renters say they’d prefer to rent from a landlord who allows pets, says a recent survey. This means that allowing pets in your rental property is likely to reduce the length of rental vacancies.
3. Fewer Repair and Maintenance Issues
Pet-owning tenants, contrary to popular belief, are less likely to damage property than those who don’t own pets. It is because tenants with pets are usually more responsible. Many pet-owning tenants are aware of the responsibilities of providing for a pet and are likely to treat their rental property with the same level of care.
4. Increased Security
The security of your property can be enhanced by allowing tenants to keep pets. According to studies, properties with pets have lower crime rates, such as vandalism, burglary, and others. This is likely due to the fact that criminals are less inclined to target a property that contains a pet.
5. Improving Tenant Health
Lastly, allowing your tenants to keep pets can benefit their health. Stress, blood pressure, and cholesterol levels have all been shown to decrease with those who have pets. Additionally, they can increase physical activity and social interaction. Tenants with pets tend to be healthier than those without pets for the reasons described.
As you’ve seen, there are lots of benefits in allowing tenants to keep pets in their rental property. If you’ve been on the fence about allowing pets, perhaps this list has convinced you to give it a chance! Your tenants and your property will be grateful.
Would you like an expert opinion on making your rental property more pet-friendly? Contact Real Property Management Spokane County today!
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