There are various reasons why Kingfisher owners should allow renters to keep pets in their rental properties. Actually, while deciding whether to allow dogs, the majority of landlords take into account advantages including the ability to charge pet deposits and higher rent. Owners of single-family rental homes should be aware of certain unforeseen benefits of accepting pets. Here are the strongest 5 reasons for letting tenants keep pets in your rental property.
Increased Property Values
One of the most compelling arguments for allowing tenants to have pets is that it can increase the property’s value. Studies show that pet-friendly properties increase in value more quickly than non-pet-friendly ones. In addition, homebuyers frequently seek out properties with pet-friendly amenities, such as pet entrances, fenced-in yards, etc. Renting a home that allows pets could increase its value.
Shorter Vacancies
The desirability of your rental home can be improved by allowing pets. According to a recent survey, more than half of all renters said they would be more likely to rent from a landlord who allows animals. This suggests that permitting pets in your rental home will probably shorten the time it is vacant.
Fewer Repair and Maintenance Issues
Contrary to popular assumption, tenants who have pets are less likely to damage your property than tenants who don’t. This is due to the fact that tenants with animals tend to be more responsible renters, to begin with. Many pet-owning tenants are familiar with the responsibilities of pet maintenance and are likely to apply the same standard of care to the rental property.
Increased Security
Another persuasive argument in favor of allowing pet ownership by tenants is the potential increase in home security. Studies indicate that properties with animals have lower rates of burglary and vandalism. This is probably because burglars are less likely to target a home if they are aware of the presence of a pet.
Improved Tenant Health
Last but not least, allowing tenants to own pets can be quite beneficial to their well-being. It has been demonstrated that pets decrease tension, blood pressure, and cholesterol levels. Additionally, they may help to promote more social interaction and physical activity. Renters with animals are frequently healthier than those without for all of the aforementioned reasons.
There are a lot of good arguments in favor of letting tenants have pets, as you can see. If you have been contemplating whether or not you should allow pets, maybe this list has persuaded you to at least give it a try! Both your tenants and your property will value it.
Would you like advice from a professional on how to accommodate pets in your rental property? Contact your local Real Property Management office today!
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