There are numerous reasons why landlords should allow tenants to keep pets in their rental units. Most Tulsa property managers consider the benefits of allowing pets, such as the ability to charge pet deposits and higher rent. Here are five compelling reasons to allow your tenants to keep their pets!
1. Higher Property Values
Allowing tenants to keep pets is one of the best ways to increase the value of your property. Studies have shown that pet-friendly properties tend to appreciate faster than those that do not. Furthermore, pet-friendly features such as fenced yards and pet doors are frequently sought by property buyers. This can increase the value of a pet-friendly rental property.
2. Shorter Vacancies
Furthermore, allowing pets can increase the desirability of your property to prospective renters. In fact, almost half of all renters say they’d prefer to rent from a landlord who allows pets, says a recent survey. This implies that allowing pets in your rental property will likely result in shorter vacancy periods.
3. Fewer Repair and Maintenance Issues
Contrary to popular belief, renters with pets are less likely to cause property damage than those who do not have pets. It is because tenants with pets are usually more responsible. Lots of pet-owning tenants are aware of the responsibilities that come with caring for a pet and are likely to treat their rental property with the same level of care.
4. Increased Security
Permitting tenants to keep pets can also improve your property’s security. Studies indicate that properties with pets have lower rates of burglary, vandalism, and other crimes. This is likely because criminals are less likely to target a property with a pet present.
5. Improving Tenant Health
Lastly, allowing your tenants to keep pets can benefit their health. Stress, blood pressure, and cholesterol have all been shown to decrease when people have pets. They can also help with social interaction and physical activity. Pet-owning tenants are generally healthier than non-pet-owning tenants for all of these reasons.
As you have seen, there are multiple compelling reasons to permit tenants to keep pets in your rental property. If you’ve been discussing whether or not to allow pets, perhaps this list has inspired you to try it! Your tenants and property will appreciate it.
Would you like an expert opinion on making your rental property more pet-friendly? Contact Real Property Management Tulsa today!