Imagine a puppy whimpering at you, desperate for a home. Would you say no? Unfortunately, many pet owners struggle to find rentals that allow animals.
Families come in all forms, with nearly 80% of renters having a pet. About 97% of owners say their pet is part of the family. They won't part with a pet to live in a Jacksonville, FL rental. Renters with pets are actually more interested in a home that's pet friendly than one with a washer and dryer.
Still on the fence about allowing pets in a rental property? Read on to weigh the pros and cons before making your choice.
Pro: Bigger Rental Property Tenant Pool
About 85 million families in the US own some kind of animal. Of these, 471 million are dogs and 370 million are cats. That's millions of opportunities for you to attract renters in Jacksonville.
Allowing pets will open your rental property tenant pool. You'll have the opportunity to choose between renters.
If you don't allow pets, you'll receive fewer applications. You may feel desperate to select the first renters who apply. These renters aren't always reliable. You may choose renters who pay rent late or ignore your rental tenant terms.
Most pet owners are responsible individuals. After all, they're responsible for themselves and their pet. They'll follow your rules if it means having a home for themselves and their furry companion. They're also more likely to renew since so many owners do not allow pets in their homes.
Con: Rental Property Damage
Once a pet owner moves in, you don't have complete control over what happens. Pets that aren't trained may:
- Urinate on the carpets
- Stain floors or carpets
- Bite wooden fixtures
- Destroy furnishings
- Ruin the yard
This rental property damage could lead to expensive repairs. Remember to establish rules before pet owners move in. Make sure they're aware of the damages they're responsible for.
Pro: Pet Guarantee
Many property owners are hesitant to accept pets because of the potential damage. Here at Green River Property Management we have measures in place to protect you from this.
We include a Pet Guarantee as a benefit to you. This covers you for up to $1500 above and beyond the security deposit amount in case any pet damage occurs.
Con: Noise Complaints
Pets left at home alone for hours at a time sometimes howl, whimper, and bark. This could lead to noise complaints.
Hire a property management company. They can handle these complaints on your behalf. Otherwise, there may be disputes between renters.
Pro: Longer Rental Tenure
Remember, many pet owners struggle to find pet-friendly rentals. Once they find one, they won't want to keep searching.
These renters are likely to renew their leases. Increasing renewals can boost your occupancy rate and ROI.
Con: Liability
Before they move in, require dog owners to have an active dog bite insurance policy. Their pet insurance will ensure you're not held responsible if there's an incident.
Consult a property manager if you encounter legal trouble. They help you avoid liability.
Allow Pets in a Rental Property
To recap, should you allow pets in a rental property? Allowing pets will increase your tenant pool and likelihood of renewals. However, you should protect yourself from liability or potential damages before pet owners move in.
Consult a property manager before making this choice. Our team at Green River Property Management has 15 years of local experience. We can maximize your earning potential.
Rely on our expert guidance, low turnover rates, and happy tenants. You can trust our pet guarantee. Contact us today to discuss allowing pets in your Jacksonville properties.
