There are various reasons why Lehi owners should allow renters to keep pets in their rental properties. In fact, deciding whether or not to accept animals, most landlords look at potential financial gains, such as pet deposits and higher rent. There are other, unanticipated benefits to allowing pets that single-family rental property owners should be aware of. Here are 5 important reasons for permitting tenants to keep pets in your rental property.
Increased Property Values
The ability to raise the value of your home is one of the most important justifications for allowing pets among your tenants. Studies show that pet-friendly properties increase in value more quickly than non-pet-friendly ones. Additionally, buyers usually look for homes with pet-friendly amenities like pet doors, fenced yards, etc. A rental home that allows pets may charge more money than it normally would.
Shorter Vacancies
Additionally, allowing pets can increase the desirability of your property to potential tenants. In fact, a recent survey found that over half of all renters stated they would be more likely to rent from a landlord that allows pets. This suggests that permitting pets will probably shorten the time your rental property is vacant.
Fewer Repair and Maintenance Issues
Contrary to popular assumption, tenants who have pets are less likely to damage your property than tenants who don’t. This is due to the fact that tenants who have pets are typically already more responsible tenants. The majority of tenants who own pets are aware of the responsibilities involved in pet care and are likely to take the same amount of care with their rental home.
Increased Security
Another persuasive argument in favor of allowing pet ownership by tenants is the potential increase in home security. According to studies, the prevalence of crimes like burglary and vandalism was lower in homes with pets. This is likely due to the fact that criminals are less likely to target a home with an animal companion present.
Improved Tenant Health
Lastly, allowing tenants to own pets can also be very beneficial to their overall well-being. There is evidence that pets reduce anxiety, blood pressure, and cholesterol levels. They can also help to promote more social interaction and physical activity. Renters with animals are frequently healthier than those without for all of the aforementioned reasons.
There are a lot of good arguments in favor of letting tenants have pets, as you can see. The following list might have persuaded you to allow pets if you were on the fence about it. Your property and tenants will appreciate it.
Want an expert’s opinion on how to make your rental property more pet-friendly? Contact your local Real Property Management office today!
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.
