Should You Allow Pets in Your

Rental Property?

Multiple studies over the past few years have shown that a large majority of U.S households have pets. Some numbers show that nearly 70% of households do. Why is that important to you as a rental property owner?

#1 Higher Rent Price

When an owner decides they will accept pets leads to higher monthly rent. This could earn you $50 more every month. Over 1 year that equals $600 per unit! If you have more than 1 property that adds up fast.  If you own a duplex that’s $1,200, a fourplex that’s $2,400!

#2 Larger Market

Allowing pets into your rental property opens it up to more prospects. On the reverse side, denying pets only gives you access to 30% of the total market. Allowing pets means 100% of prospects will see your property and allow you to fill vacancies faster.

#3 Longer Tenure

Statistics show that pet-friendly properties tend to have tenants who stay longer. For them, it is much harder to find a home that will accept their animal, which in turn causes them more likely to renew their lease.