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If you own a rental property, prohibiting pets may seem like an easy way to protect your valuable asset from damage. While it may minimize repair and maintenance costs between tenants, not allowing pets could make filling vacancies more difficult. Here's what you need to consider when you allowing tenants with pets at your rental properties.

What Are the Benefits of Allowing Pets at Your Rental Property?

Young adults are the largest pool of potential renters, and the simple fact is that most of them have pets. By some estimates, approximately 75% of Americans in their 30s have at least one dog, and half of them own a cat. Prohibiting pets essentially limits your potential renters to less than a quarter of the population.

rental properties

Allowing pets in your properties also increases the chances of attracting long-term tenants. Tenants who consider their rentals to be a home are more likely to renew at the end of their leases. For many pet owners, having a comfortable place for their cat or dog is a valid reason to stay in one place.

Finally, pet owners are often willing to pay a premium for a pet-friendly home. As a landlord, this means you can typically charge higher rates, especially if few other rentals in the area are pet-friendly.

How Do You Screen Tenants With Pets?

Responsible tenants are also usually conscientious pet owners, so screening tenants with pets may be easier than you think. Checking an applicant’s credit report and past rental history can often tell you a great deal about how they handle their obligations.

Instead of restricting breeds or dogs of certain sizes, it might be best to make rental decisions on a case-by-case basis. Meeting the dog yourself lets you gauge whether it responds to its owner’s commands and seems to be well-groomed.

If an animal owner seems like an attractive tenant, ask whether their pet is left alone for extended periods and whether they’re spayed or neutered. You should also find out whether the animal has been trained and how the owner controls fleas.

 

Finding the right tenant can be frustrating and time-consuming, which is why rental property owners throughout the Anchorage area rely on Nova Property Management. Their experienced professionals know how to maximize your occupancy rates, handle repairs and issues, and find the ideal tenants, making your rental a source of truly passive income. To speak with a property management professional today, visit their website or call (907) 522-1332.

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