When a landlord contemplates their pet policy, it is important for them to know both the pros and cons of allowing pets in their rental property. This will help them to make the best decision for their rental property and their tenants. Here are a few of the pros and cons of allowing tenants to have pets in your rental properties.
Pros of Allowing Pets
Landlords that allow pets in their rental properties are able to charge a higher rent to their tenants. This can both increase their profits and offset repairs costs incurred by pets. Tenants tend to be less stressed and happier when they have pets, which can increase their satisfaction with your rental property. Individuals with pets tend to stay in one place for longer, so allowing pets in your rental property can decrease your turnover rates. It will also increase your pool of potential tenants, because it will allow those with pets to rent your property.
Cons of Allowing Pets
Though there are many advantages to allowing pets in your rental properties, it is important to be aware of possible problems that can come with pets on your rental property. Pets can increase the chances of damage occurring to your property. They may also disturb the neighboring tenants, particularly if they are noisy or create an odor in the property. It is also important to be aware that you may be held liable if a pet causes harm to another tenant on the property.
When you decide whether to allow pets in your rental property, it will be important to examine both the pros and cons. This will help you to protect your property and keep your tenants happier. Contact our experts at the Keyrenter in Merrimack to learn more about the pros and cons of allowing pets in your rental properties.