In today's world, where more than 59 million U.S. households own a dog and over 42 million own a cat (source: the 2024 AVMA Pet Ownership and Demographic Sourcebook), pets are more than animals - they're beloved family members. This growing trend of pet ownership poses unique challenges in the rental market, particularly in cities like St. George.
Keeping pets in a rental property can be an uphill battle for many pet owners, as landlords often have reservations about allowing animals on the premises. If you're a landlord considering the pros and cons of this arrangement, you're not alone.
Keep reading to explore the nuances of renting with pets and how landlord pet guides like ours can help make the process smoother for all parties involved.
Pro: Wider Tenant Pool
Allowing pets in a rental property can make your place popular with many St George, UT, renters. A lot of people own pets and love them like family, so this affords you a bigger group of people to choose from, which helps you find the best ones.
Furthermore, tenants often stay longer because finding another pet-friendly rental is challenging and costly, meaning less work for you and a steady income.
Clear pet policies in rentals are essential because they help you set rules and keep your property safe. These rules can also make tenants feel happier because they know what's permitted and what's not so that they can keep their pets without worry.
Con: Potential Property Damage
If mismanaged, pets and rental maintenance can become a headache for St George landlords. For instance, pets might:
- Scratch floors
- Chew on carpets
- Leave stains
These damages could lead to costly repairs. For instance, if a dog chews on a door frame, you might have to replace it. Cats might claw at window screens, needing new ones; these repairs add up, especially if multiple tenants have pets over time.
A pet deposit can help because it's a safety net for you, the landlord. After all, this deposit covers potential damages.
Tenant pet agreements help landlords manage pets in a rental property while allowing tenants to have their furry friends. This deposit makes rental property management less stressful and ensures damages don't affect your profits.
Pro: Higher Rent
Another advantage to offering a pet-friendly rental is that you can charge a higher rent. Pet owners often expect to pay more for a home that welcomes their pets, meaning landlords can charge higher rental fees because pet-friendly properties are in high demand. Families with pets look for places where they can live happily with their animals; they know that comes at a price.
Unlocking Higher Income with Pets in a Rental Property
Allowing pets in a rental property requires careful consideration of both the advantages and drawbacks. While the potential for property damage and additional responsibilities exists, the benefits of a wider tenant pool, longer tenancies, and increased rental income can be significant.
Want to maximize your rental income? Our comprehensive tenant screening process ensures we find reliable tenants who can afford and maintain your property responsibly.
We go beyond basic credit checks, utilizing advanced background and credit assessments to protect your investment. Contact PMI St. George today to secure the right tenants and boost your income confidently!
