Pros and Cons of Offering Pet-Friendly Rentals

An issue you will face as a property owner is whether you will allow pets on the property. Even if you’re an animal lover, you might find that creating a pet-friendly atmosphere is more challenging than you realize. Before you decide whether allowing tenants with pets is right for your property, consider the pros and cons of this option.  

Pros of Allowing Pets

Many Maryland property owners decide to allow pets due to the positive advantages that pet-friendly properties bring. Here are a few benefits to consider.

More Rental Applicants

The majority of renters have cats or dogs. By allowing pets, you can increase your rental pool and find more eligible tenants. This can help you fill vacancies faster.

Higher Rental Rates

You can increase your overall rental income by allowing pets on your property. For example, you can charge an additional pet security deposit. Property owners can also increase the monthly rent for tenants with pets.

Greater Tenant Satisfaction

When you allow tenants with pets, you’ll keep families together. Accepting their pets will make your tenants happier, and they are more likely to become long-term tenants as a result.

Cons of a Pet-Friendly Policy

While managing a pet-friendly property can be advantageous, there are some drawbacks. Some of those disadvantages include:

Potential Property Damage

Even a well-trained pet can have a bad day, leading to property destruction. This can be something as simple as staining a carpet or something as costly as damaging drywall. 

Noise Complaints

Dogs tend to bark, howl, and whine when they want to express themselves. Even cats can become a nuisance when they’re in heat, howling or crying loudly. Keep the potential for noise complaints from your other tenants in mind if you allow pets.

Wear and Tear

Your furry tenants may increase the rate of wear and tear damage your rental units suffer. Aside from pet accidents that can leave foul odors and stains on your floors, fur from shedding gets everywhere. Allowing pets will mean putting more effort into property maintenance.

Property Management Help You Can Trust

Ultimately, deciding whether to allow pets depends on your goals as a property owner.

In Maryland, Reliable Property Management helps property owners oversee every aspect of their rental properties. To learn more or to get help managing your rental property, contact us online or call 443-869-3799 today.