Pets are an essential part of people's lives. In fact, it's estimated that 85 million families in the United States own some type of pet.
Now, as a landlord and property owner, you may be wondering why this is important information. Well, when you're renting out your property, you need to decide what your pet rental policy is going to be.
There are so many people with pets, which means you may find it beneficial to let tenants with pets rent your property. You probably already know the downsides of letting animals in your property, but you may not know all the ways you can benefit.
This guide is going to give you several reasons why constructing a pet rental policy is a good idea. Continue reading so you can make the most informed and best decision possible for your rental property.
Larger Tenant Pool
Finding the right tenant is challenging as is, but when you don't allow pets, you cut the number of potential tenants really low. Your property in Orlando will appeal to a much larger audience if you allow cats and dogs. You'll have more tenants to choose from making it easier to find a good renter.
Increase Profits
You may be surprised that you can make more money by putting a pet rental policy in place. You can increase rent slightly and charge an extra cleaning fee. You can also collect a deposit to cover any pet damage, so you don't lose any money if you need to replace or repair items.
Higher Quality Tenants
Taking care of a pet requires a lot of responsibility. A good pet owner will likely care for your property and may even be more responsible than someone without a pet. Your tenants with pets will also be happier and your place will feel more like home to them, increasing your chances of having better, high-quality renters.
More Renewed Leases
Pet owners often have a hard time finding properties that allow pets; once they do there's a good chance they will want to stay as long as possible. If you offer pet rental policies, your tenants will be more likely to renew because they don't want to find another property.
Decreased Risk of Unknown Pets
If you don't allow pets, there's a high chance that your tenants may sneak them in anyways. Then you robbed yourself of the opportunity to screen the animals and you didn't get to collect extra for rent.
You may not even know about the pets until after the rents have moved out or there could be issues with noise and then you may have to go through the eviction process.
Pet Rental Policy Tips
You always run the risk of damage to your property when you allow pets. As you can see, you can also benefit greatly. If you're having trouble finding renters consider adding a pet rental policy.
Don't wait and lose out on any more money. Give us a call and we will help you implement the perfect policy that is specific to your property in Orlando.