As the housing industry continues to shift and change, more and more families are finding themselves looking to rental housing versus purchasing a home. Many people have been displaced or had to relocate due to foreclosure or job loss. While their ideal dream may be to own their home, they have to make sacrifices to make ends meet. Often times, these families already have pets that they have grown to love and are not willing to give them up. Here are some things to consider when determining whether you want to allow pets into your investment rental property.
In a recent survey, the following reasons were cited as to why pet owners make better renters –
- Pet owners are more responsible. Because of the tasks they must provide for their pet, it may mean that they will be more responsible in general. For instance, they must groom, train and maintain regular appointments to the vet to keep their pet clean and healthy.
- Pet owners are more caring about others as well as their property. Pets provide companionship that nurtures the owner emotionally and it may cause them to have greater care for their surroundings and other people or neighbors.
- Pet owners are more respectful of rules and policies. Pet owners are more willing to follow the rules and guidelines set before them to make sure that they can maintain the pet friendly dwelling once they have obtained it. They are less likely to create problems with the neighbors and more likely to stick to your lease and pet agreements.
- Pets bring peace to their owner and this means the owner may be more relaxed and calm. This means less drama in your rental property.
- Pets are a stress reducer. Many feel that when you have less stress, you have a better quality of life. Less stress may make you happier in general and I know I like being around happy people.
- Pets provide companionship. Having a buddy around may alleviate the feeling of loneliness and help those who would normally suffer from depression. Depression often times leads to anger management issues. By allowing a renter with a pet, you may see less of these issues.
RESPONSIBLE pet owners are typically more willing to:
- Accept a pet interview – Is the pet clean and obedient when you meet them?
- Provide pet references – Do prior landlords or neighbors feel comfortable around the pet?
- Show proof of current vaccinations and obedience classes – Does the owner maintain a regular schedule at the vet?
- Be willing to pay “PET RENT” in addition to the pet deposit – I’ve seen up to $25/mo. for “pet rent” and people are willing to pay it!
- Agree to a more frequent inspection schedule – This will help ensure that you nip any damages or problems in the bud. If you have a normal 6 month inspection, make it 4 months for a pet owner…
All in all, the benefits of having a pet friendly rental may far outweigh any of the negatives you can think of. These negatives – damages, smell, fleas, etc. – are usually what come to mind when you hear the words “rental” and “pet” in the same sentence. As long as you use the same rules for all pet owning renters, you won’t run into any problems – just the same as your normal rental screening process.
Tell me about some of the situations you’ve run across in pet friendly rentals. Whether it is a landlord horror story, or one about a little ol’ cat lady, I’d love to hear it!
Until next week, may your rentals be filled and your home be a happy place.
Lori Hartjoy is the owner of Blue Mountain Rentals, established in April of 2011. As well as being a devoted mother of 3 toddlers, she provides over 20 years of clerical experience to her clients. Her background includes processing employment, tenant screening, background checks and working as a property manager and payroll clerk for a major telecommunications corporation.
The information contained on this blog and from any communication related to the Blue Mountain Rentals website is provided for informational purposes only. All information you choose to use is at “your own risk”.
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A special thank you to – Sarah, Regal, Myles, Carla, Suzan and Melissa for answering my survey question…