There are many reasons why landlords should permit tenants to keep pets in rental properties. When deciding to permit pets, most McKinney property managers first think of benefits like being able to charge higher rent and pet deposits. Here are five strong arguments to let your tenants keep their pets.
1. Higher Property Values
Enabling tenants to keep pets increases the value of your property, which is one of the best reasons to do so. According to studies, pet-friendly properties appreciate at a faster rate than those that do not. In addition, property purchasers frequently look for pet-friendly features, such as pet doors, fenced yards, etc. This can increase the value of a pet-friendly rental property above what it would be otherwise.
2. Shorter Vacancies
Furthermore, allowing pets can increase the desirability of your property to prospective renters. In fact, nearly half of all renters say they would prefer to rent from a landlord who allows pets, according to a recent survey. This implies that allowing pets in your rental property will likely result in shorter vacancy periods.
3. Fewer Repair and Maintenance Issues
Contrary to popular belief, renters with pets are less likely to cause property damage than those who do not have pets. It is because tenants with pets are usually more responsible. Many pet-owning tenants understand the responsibilities of pet care and are likely to apply the same standard of care to their rental homes.
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, permitting tenants to keep pets can improve their health. There is evidence that pets reduce stress, blood pressure, and cholesterol. Additionally, they can increase physical activity and social interaction. For these reasons, pet-owning tenants tend to be healthier than those without pets.
As you can see, allowing tenants to keep pets in your rental property is beneficial for a number of reasons. If you’ve been on the fence about allowing pets, perhaps this list has convinced you to give it a chance! Your tenants and property will be appreciative.
Would you like an expert opinion on making your rental property more pet-friendly? Contact Real Property Management Focus today!
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