Should you allow tenants owning pets to rent your property? This is a question that all landlords must consider. On the one hand, there is the fear of losing out on many pet-owning families as tenants and on the other hand, there is the fear of damage to the property. Either way, you must bear the consequences. Both policies have their advantages and disadvantages.
Advantages of a no pets policy
- Your property attracts tenants who have pet allergies
- There is no risk of damage caused by pets
- There are no chances of quarrels between neighbours because of pets
Disadvantages of no pet policy
- Longer vacancy rates as many prospective tenants own pets
- Limiting your tenant selection
- Potential of increasing your income loss.
Advantages of allowing pets in the property
Pet owning families tend to stay longer when they find a property where their furry family members are allowed. As a landlord, there are steps you can take to minimise the chances of property damage.
Disadvantages of allowing pets in the property
Unfortunately, at time pets can not only cause damage to the yard but also to the inside of the property. Sometimes, the cost to repair the damage caused by a pet can be costly.
The choice is entirely yours. You are the owner of the property and it depends upon your personal opinions. You can choose to allow pets but put reasonable restrictions on their breeds and size in an attempt to minimise damage to property. You also need to ask questions to know whether the pet owner is a responsible tenant or not. The final decision is yours to make.