Did you know that pets are a staple in most American households? These furry, and sometimes scaly or feathery, friends can provide love, comfort, and joy to their owners.
However, with millions of Americans renting, it can become an issue when looking for a place to live. Some landlords allow pets, while some have a strict no-pet policy.
If you're a landlord, you may be wondering whether pets in a rental property are worth it. Ultimately, the decision is yours to make. Here are some perks and drawbacks to allowing your tenants to have pets.
Pro: Avoid Legal Issues
Under the Americans with Disabilities Act, or ADA, it is against the law to deny service animals on your property. For people with legally-registered animals, you must allow the animals and make appropriate accommodations.
If you own an apartment complex, people with service animals may need a ground floor unit or access to green space as accommodation.
You can avoid lawsuits by allowing people with service animals to rent your property. If they sue, it could cost you a lot of money, or even the property itself.
Con: Potential Damage
Many owners swear their pets are well-behaved, but sometimes this isn't true. When you allow pets, you put your property at risk for potential damage, such as stains and odors, scratch markets, and other types of destruction.
A good compromise for this is a pet deposit. This is an additional payment with the security deposit that covers damage from pets. In addition, you can require rental payments for pets as an add-on every month.
Pro: Expand the Tenant Pool
Since so many people own pets, you may struggle to find good tenants if you completely ban them. Opening up the option to bring pets can increase your rental property tenant pool, as well as the length of rent tenure for your residents.
If you want to safeguard yourself even more, you can include pet conditions in your rental tenant terms.
Con: Noise Complaints
Although dogs, cats, and birds are cute, they can also be loud. This may not be an issue if you own a single-family home, but it will annoy the neighbors in an apartment or condo complex.
If you have multiple units, you need to consider the health and well-being of all of your tenants. Too many noise complaints from other tenants may lead you to evict the tenant with the pet. It will bring peace and quiet for everyone.
Consider Pets in a Rental Property
If you're a landlord, you may wonder if pets in a rental property are a good idea. With this guide, you can make that decision once you consider the pros and cons.
With decades of experience serving the Jacksonville area, PMI Jacksonville is here to help with that decision. We can evaluate your rental situation and help you decide whether pets will help or harm your business.
If you're ready to get started with property management, don't hesitate. Reach out to us today.
