Choosing to accept dogs and cats to live into your rental home will affect how much income you receive. But a lot of landlords do not want to go this route because of the damage that will be done to your property.
But did you realize that more than half of US households have pets? But only a few landlords let pets in their properties. This affects a lot of the rental experience of the tenant. Landlords have the opportunity to draw more tenants to your house if you let pets. Pet owners are likely to be more responsible than others and it shows in how they care for their pets.
The Benefits of Opening Up Your Property to Pets
There are many advantages to having pets. More renters who are interested in living into your rental home have pets. If you let pets into your rental homes, you can attract up to 70 percent of potential tenants who have pets. Alternatively, if you don’t let them in, you’re only accommodating 30 percent of possible tenants.
Accepting families with pets allows you to pay higher rental prices. They are also willing to pay pet deposits. This means that by allowing pets, you’re making more money. It is even possible to impose non-refundable pet fees or rental fees.
Pet Owners are the Best Tenants
It takes a lot of time and attention to care for a pet, particularly a dog. Pet owners would have placed the same amount of energy into your home. You’re also likely to see that in your property. Pet owners tend to stay longer in order to stretch the rental rights.
For some reason, it’s difficult to move with a cat. For one, pet parents would also have to move the stuff of their pets. Second, some pet parents, particularly dog owners, often have no desire to make their dogs or cats all stressed by constantly moving around.
Risks of Letting Pets in Rental Properties
However, there are a few risks related to leasing homes to pet owners. Your homeowner association itself may not let in pets. To make sure, check with them first. Some pets need to be registered first to be accepted.
Property damage caused by animals is likely to occur, particularly with dogs that like to chew. This is true among puppies. It’s true that some homes were destroyed by dogs. The common damages are broken cables. They may also cause noise and disturb other tenants. If you let dogs into your property, they may bark excessively.
Try to know more about the pets before letting them in. Ask if they tend to bark too much. You must also settle other issues such as allergies among your neighbors. You want to smoothen everything before preparing the contract of the renter. That’s the only way you can make it a win-win situation for all parties.
If you have decided that you are ready to offer pet friendly rental Penrith, then set out the rules as early as now. You want to make sure that everything is well in place so that your new tenant is getting the best possible experience living in your property.