Recent data shows more than 35% of young consumers travel with their pets.
Leaving Fido behind isn't always an option, and you don't want to prevent families from enjoying a wonderful vacation. As a rental owner, you'll have to decide whether to allow pets or create some restrictions. Before you jump into anything, it helps to understand the benefits and work involved in renting with pets.
Read below to discover the pros and cons of allowing pets in a rental property!
Pro: You Can Reach a Larger Market
Regardless of your property size, people all over the country intend to travel with pets. Forbidding pets can impact your ability to fill rentals and lower your bottom line.
Most property management tips recommend finding ways to connect with your target market. Since the Hendersonville rental market is so lively, you must find unique ways to attract attention. Marketing your pet-friendly rental can help you find tenants and prevent vacancies.
Property management expands when you allow pets, but your workload doesn't have to. Take a look at why you should outsource your property management in Nashville and Hendersonville with us!
Con: Pets in a Rental Property Increase Liability Risks
Pet policies and insurance can protect you from most pet problems, but some risks are worth researching.
Here are a few liability issues that could occur:
- Injuries
- Property damage
- Noise complaints
- Allergens
Each of these risks can be addressed in your tenant agreements. So long as you protect yourself and your property, you should avoid trouble. It also helps to screen tenants before allowing their pets to ensure they aren't aggressive or prone to accidents.
Pro: Your Tenants Will Be Happy
Have you ever had to organize pet sitting or change rentals because of your dogs? This can be a significant hassle for travelers, so they will be happily surprised when they discover your property in a prime location.
According to MSU Denver, there's a direct correlation between pets and happiness. You can offer happiness to families with your property, and we can help you with the maintenance. Allowing pets in a rental property can come with long-term benefits that can increase your revenue.
Con: Cleaning & Maintenance Costs Will Increase
Dogs are about as predictable as a toddler. Although you won't have to worry about them drawing on the walls, hair, and damage can be a concern.
Maintenance costs will increase to ensure the property doesn't get odors or damage. To combat this issue, many tenant pet policies include cleaning and maintenance fees. Our team can help you define pet allowances if you want to appeal to the pet-loving crowd.
Fill Properties & Meet Pets Along the Way
Although pets in a rental property come with risks, you can offer a full experience for families. Whether you have a vacation or short-term rental, your pool of responsible tenants increases.
Creating landlord pet guidelines with our team can ensure protection against liability issues. Even when the most challenging of pets comes through your rental, you can rest easy knowing the pros and cons. At PMI Middle TN, you can find all the property management resources you need to handle your investments.
Take a look at our customer testimonials to learn about the impact we've had on the Nashville and Hendersonville communities!
