Are pets a good idea for your Pittsburgh rental properties? When you think of an overwhelming amount of cat hair and scratched flooring, you probably want to avoid dealing with the aftermath of pets in your properties when a renter moves out.
Did you know that many millennials and Gen Z renters have pets? It's hard not to notice with all the catto and doggo memes floating around these days. It's also a fairly well-known fact that these generations are now a significant portion of the renter population. When investors exclude pets from their properties, they also exclude the potential for these younger generations of high-quality renters to call your Pittsburgh-area real estate home!
The decision is yours! As you consider accepting pets, check out this insight from the experts in Pittsburgh property management services.
The Pros of Pets
There are plenty of perks for investors who allow pets in their properties beyond making your rental more accessible to people. In many cases, experienced investors understand that the benefits far outweigh the downsides of dogs, cats, or other small animals that come with residents—but what are those perks?
More Quality Renter Options
Allowing pets broadens your pool of available high-quality renters. Sometimes the best residents come paired with pets! If your impression of a pet-owning renter means your residential rental property will be overrun with big dogs responding wildly to the 'call of nature,' we can assure you that's not the case for most renters with pets.
Pet owners tend to be extremely responsible renters. It's often hard to find a Pittsburgh rental property that allows a dog or cat. Renters with pets work hard to be excellent residents when they find a place that lets them move in with their beloved family floof.
You'll find pets come with owners who:
- Follow the rules of the lease
- Have well-behaved pets
- Pay the rent on time
- Renew their lease.
Smart property owners know that keeping excellent renters for more than one lease term is one of the best ways to boost their income! Choosing a renter with a pet often leads to a renewed lease and happy residents. Score!
A Marketing Advantage
If you allow pets, tell everyone on social media! Since many rental properties don't allow pets, your properties will stand out from the competition and attract excellent renters.
- Your property listing should highlight details about pets in your rentals—including what you will and won't allow in your property.
- A professional Pittsburgh-area property management company can help you craft a property listing that attracts the best renters.
- This will help folks with pets find your rentals while giving you peace of mind about the types of pets you allow.
Pets equal profits! Pet-friendly properties help investors keep residents longer and boost their income by bringing you excellent renters and expanding your availability to a larger part of the renter population.
However, while pets are an excellent perk, they aren't without some risk. We've all heard the horror stories of doggos getting into the trash—or worse. Allowing pets means you might have to deal with a few negatives to enjoy better profits.
The Cons of Pets
We won't sugarcoat it: allowing pets isn't all puppy love and kitten kisses! Pets can be a hassle without the right processes and protections in place to make it worthwhile.
Damage Can Happen
Even the most well-behaved pets can cause property damage. From scratched flooring to unsupervised chewing on the stair railing, any pet can be a pest while living in your rental property.
When allowing pets in your properties, a professional Pittsburgh property management company will recommend collecting a pet fee or deposit. This is in addition to your renter's security deposit and can cover the cost of repairs caused by a renter's pet.
Your property manager should also conduct routine property inspections (At Rentwell®, we do a lot of these). With eyes on your property throughout the year, your property manager can 'spot' damage from Spot before it gets worse. They'll encourage your resident to help that pupper keep his claws to himself—while repairing the early damage right away.
Seasoned investors have the right insurance coverages to protect their properties and investment income. However, when you allow pets in your property, you could run into some challenges when choosing liability coverage for your properties.
Your property manager can help you work through these challenges. Excluding aggressive dog breeds from the type of the pets you allow in your properties can make it easier to get the insurance policies you need while still allowing pet owners into your Pittsburgh property.
Pick Better Profits With Pets and Learn How to Rentwell®!
The right Pittsburgh property management company can help investors navigate the wonderful world of allowing pets in your rentals. The benefits far outweigh the negatives when you let renters bring their faithful puppies, kittens, or even gerbils into your rental home.
Rentwell® is the best team of experts for hassle-free management of renters and pets in your properties! Let us help boost your profits and keep an eye on renters and pets to protect your investments.
Don't forget that owning a pet is just one aspect of your future renter's life in your property! It doesn't always ensure they're an excellent renter. To get the whole picture, you need to thoroughly screen your renters before they ever step foot in your rental home.
Want to get started for free? Download your copy of our Foolproof Screening Checklist!