Veteran Owned & Operated!
Approximately 58.6% of homes in North Carolina have a pet. Deciding to get one is a major decision that involves weighing the pros and cons.
Deciding whether or not to allow them is the same for landlords. It's one of their most difficult decisions because it changes the entire application process.
Read on to learn the pros and cons of allowing pets in a rental property.
Pros
Your property's market value determines how much you can charge for rent. Allowing pets increases it, especially if you're the only one in the area that does. You can also earn more money from pet deposits and rent.
Open up your rental marketing efforts to pet owners and you may get a better response. You'll reach a wider tenant pool, making it easier to fill vacancies.
Why would tenants search for pet-friendly housing again once they've found it? They'll start to feel at home, renewing their leases and staying longer. This means fewer turnover costs and a steady income for you.
Pet owners are more financially and personally responsible. They're more likely to follow the rules of their tenancy agreement and respect the property they worked so hard to find.
Cons
Humans cause enough damage to their homes. Adding in pets can only increase the horrors you find during inspections.
A few examples include:
- Scratches
- Urinating in public places
- Chewing wood or cables
- Fleas or mites
It can be difficult to control barking dogs, singing birds, and meowing cats. The more there are, the harder it is to quiet their unwanted symphony.
It may be enough to cause noise complaints from other residents. A loud enough noise could even spread to the rest of the neighborhood.
Even responsible pet owners may be unable to attend to odor issues before the smell spreads throughout the unit. These include poor grooming, unclean litterboxes, or accidents in the hallway.
There are approximately 4.5 million dog bites a year in America alone. You could be liable for these injuries, even with insurance.
Allowing pets in a rental property increases your tenant pool, but it may also scare certain applicants off. What about those who are allergic to dogs or cats?
Assistance Animals
You are within your rights to create a lease agreement that doesn't allow pets, but there is an exception.
Service and emotional support animals are not pets but work to help owners with disabilities. It's illegal to refuse applicants because of them or charge them pet fees.
Accepting Tenants With Pets in a Rental Property
Put every pet owner through a rigorous background check process. Meet them in person and see how they behave together.
Give every tenant a thorough pet policy. Hand it out even if they don't yet have one in case they get one later.
It should cover areas such as:
- Type and number of pets allowed
- Breed or weight restrictions
- Pet deposit or rent
What About Other Important Landlord Decisions?
PMI Charlotte Metro is here for all your property management needs. We cover everything from allowing pets in a rental property to legally performing evictions.
Our experience helps find quick solutions to the problems that used to stress you out. Your success is our success, so contact us to start working with a property manager today.
