Murrieta and Temecula are very pet friendly cities. From long sidewalks and dog parks to pet salons and doggie daycares, these areas are popular for families with four legged family members. But does this mean you have to adopt a pet friendly policy on your rental? Will you be turning away potential renters by adhering to a strict rental policy? And on the other hand, is it worth the potential damage pets can cause to your property to market your home as pet friendly? If you’re on the fence about whether or not to allow pets in your rental home, here are some pros and cons to consider:
The Great Things About Allowing Pets
You fill vacancies faster
Landlords hate it when their properties are sitting empty because it means they’re losing money. If you are a pet friendly rental, you open up your options to people with and without pets and improve your chances of maintaining a steady stream of tenants, resulting in a a steady stream of income
You Can Make More Money
Although some landlords are hesitant to accept pets because they see it as potential for damage to the property and a loss of income, allowing pets can also increase revenue. A family who loves your home and loves their dog may be willing to pay slightly higher rent, and there are potential fees you can include in the contract to account for the pet. In some cases you can even charge a monthly “pet rent” for bigger breeds, and people who love their pets will pay it!
Your Property Will Stay Occupied Longer
Since there are so many rentals that strictly prohibit pets, tenants who find a home that they love and that accept pets are more likely to stay put for longer periods of time. It’s harder for them to find a property that accepts pets, so they stay put instead.
The Not So Great Things About Allowing Pets
It Can Make Routine Inspections Difficult
Having a pet in the home may make it inconvenient for the landlord, property management team or vendors to enter the home if the dog is there without the owner. If the dog is not friendly or the owner is afraid that the dog will escape, it could make scheduling routine maintenance or inspections a little more complicated.
Pets Can Disturb The Neighbors
Loud or annoying pets could be seen a nuisance to neighbors and cause tension in the community. In a multi-family property, one loud or destructive pet could cause other renters to move out, resulting in a loss of income
Pets Can Cause Damage and Leave Odor Behind
Some pets can cause damage to a property, and sometimes the odors that pets leave behind can be hard to get rid of when the family moves out, and a security deposit may not cover the work it takes to fix the issues
Pets Are Unpredictable
There’s always the chance that a pet could hurt another pet or human, and landlords have increased liability exposure if this happens on their watch.
As a landlord, you definitely open up your options for renters when you allow pets, but you also are accepting the risks that go along with it. Some landlords have restrictions about the type of pet, how many pets or the size of the pets in order to minimize the chances of permanent damage to the property. At the end of the day, it’s your home and if you’d rather not have Fido ad Fluffy running around in it, stand your ground and sleep peacefully knowing your rental home is free of four legged friends. Carefully consider the pros and cons and make a decision that works best for you.