FAQ: Should Pets Be Allowed in My Rental Property?
This is a highly debated issue in the rental industry. Tenants love their pets, but landlords sometimes don’t have the same fondness for our four-legged friends.
Truth be told, however, deciding if you should allow pets in your rental impacts how much profit you make, and how many tenants will be interested in your property.
A whopping 68% of U.S. households have a pet, yet according to a landlord survey, only 55% of landlords allow pets in their rental properties.
So, where does SMART stand on the issue?
We tell landlords that pets are an opportunity to have more tenants want to rent your property. What’s more, tenants with pets tend to be more responsible, pay their rent on time, and take better care of their space.
Other benefits of allowing pets in your rental include:
You Could Charge a Higher Rent, a Pet Deposit, or Pet Rent
Landlords who allow pets tend to make more money by charging pet deposits, pet fees, or pet rent.
Pet Owners are More Likely to Renew the Lease
Pet owners tend to not to want to move. After all, moving with a pet is hard. For one, there aren’t as many properties available to pet parents. Second, pet parents, especially dog owners, typically do not want to stress out their pets by moving often.
SMART’s Policy on Pets
Potential tenants that notify us of pets are thoroughly screened – size, breed, are shots up-to-date, etc.
Generally speaking, a well behaved dog or cat will cause little “wear and tear” in the home or in the yard.
Our pet deposits are refundable providing there is no damage.
Our policy is pets 30 pounds and under will require a $300 deposit and larger animals will be $500. We DO NOT ACCEPT VIOLENT BREEDS.
Do you have any questions about our pet policy for rentals? Give SMART a call — we’d be happy provide you with the answers you need!