When you become a landlord, it is up to you to decide what you will and will not allow in your apartments. While many people have an idea of rules that they want in place, others don’t really know where to start. You should really take your time at this stage of planning to ensure that you are happy with your choices.
One of the most common things that people wonder about is whether they can bring their pets along. While this decision can be personal, many people don’t really have an opinion. There are many reasons why you should, as well as reasons not to allow them in your buildings.
Here are some reasons why you should allow pets in your apartment complex.
- More tenants. There are many people who already have a pet which, if you don’t accept pets, you are turning away. Firepaw.org says that around fifty percent of renters have a pet. Think about all of the people that you are missing when you won’t give them a chance.
- Responsible. Responsible pet owners make responsible tenants. While they are not all like this, most of them take care of their apartments better than those who do not have pets.
- Happier people. People who live with pets are much happier. Pets help to reduce stress and it can also make an apartment feel more like home.
- Stay longer. Since it can be harder to find a place to rent when you own pets, pet owners are more likely to stay in a place that they like for a longer period of time.
- Make more money. People will pay more money for an apartment where they can take their pets. You can charge more because of the potential of damage, though people also pay more because they want their pet by their side.
- Less Sneaking Around. Even though you forbid pets, people are always going to try to sneak some in. If you don’t want to have to worry about this problem, just allow people to bring their pets.
Here are some reasons why you should not allow pets in your apartment complex.
- Damage your apartment. Allowing pets can really damage your apartment. They can be hard on floors. Accidents happen but they can ruin your carpet. If your renters get young animals, there is a chance that they will chew something that they shouldn’t. This includes carpet, floors, doors, and much more.
- Angry renters. Some renters are unhappy with pets around them. Dogs often bark, even late at night, disturbing their sleep which is annoying when it is not your own pet. If your renters don’t pick up after their dogs, other renters may step in poop which can be really upsetting. This may lead to angry renters, some who may decide to move out.
- Allergies. Some renters are allergic to dogs and cats which means that they are only looking for apartments without pets. By allowing pets, you are missing some potential renters.
- Liability. Renting to people with animals can be a liability. Dogs and cats bite and you can end up in a lawsuit because of it. This could really end up costing you a lot of money.
Deciding whether or not you allow pets in your apartment is personal. There are two sides to it, though. If you don’t allow pets, you are going to miss out on these people, though you may also miss out on those who have allergies and just don’t want to be bothered by pets in their building.
Many like allowing pets because they can charge more for each apartment. However, the reason behind that is to protect your apartment against any damage. You may also be able to charge more for a security deposit, which you may keep if you have to get new carpets, paint, and replace anything broken.
Take your time and make the right decision for you and your business and you can’t go wrong!