There are plenty of grounds why Pacific Palisades landlords should allow tenants to have pets in rental properties. Actually, while deciding whether to allow dogs, the majority of landlords take into account advantages including the ability to charge pet deposits and higher rent. Owners of single-family rental homes should be aware of certain unforeseen benefits of accepting pets. Here are the strongest 5 reasons for letting tenants 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. According to studies, pet-friendly properties appreciate more quickly than properties that do not allow pets. In addition, homebuyers frequently seek out properties with pet-friendly amenities, such as pet entrances, fenced-in yards, etc. A pet-friendly rental property may have a higher market value than it would have otherwise.
Shorter Vacancies
Allowing pets can also increase the desirability of your rental property among prospective tenants. According to a recent survey, more than half of all renters said they would be more likely to rent from a landlord who allows animals. This suggests that permitting pets in your rental home will probably shorten the time it is vacant.
Fewer Repair and Maintenance Issues
Contrary to popular assumption, tenants with pets are less likely than those without pets to harm your property. This is due to the fact that renters who have animals are typically more trustworthy tenants in general. Many pet-owning tenants are familiar with the responsibilities of pet maintenance and are likely to apply the same standard of care to the rental property.
Increased Security
It may increase your home’s security, which is another persuasive argument in favor of allowing tenants to keep pets. Studies show that the prevalence of crimes like burglary and vandalism was lower in homes with pets. This is probably due to the fact that burglars are less likely to target a home if they are aware of the presence of a pet.
Improved Tenant Health
The last point is that enabling tenants to keep pets can be very beneficial to their well-being. It has been demonstrated that having a pet lowers stress, blood pressure, and cholesterol. They can also serve as a means to encourage more exercise and interpersonal communication. For all of these reasons, residents with pets tend to be in better health than those without.
As you can see, there are a lot of compelling reasons to let tenants keep pets in your rental home. If you were on the fence about allowing pets, maybe this list has persuaded you to give it a try! It will be valued by your tenants and property.
Would you like advice from a professional on how to accommodate pets in your rental property? Contact your local Real Property Management office today!
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