At SWFL REIA meetings we often discuss if you should allow tenants with pets. It’s extremely common for landlords to forbid their tenants from keeping pets on their rental properties. Many landlords don’t want to deal with any of the furry, hairy messes or damages that pets can cause. However, there are some compelling reasons as to why you should allow tenants with pets on your rental property. Scroll down and keep reading to find out why!
Why You Should Allow Tenants with Pets: Collect More Rent
Renting your properties to tenants with pets is a fantastic way to make more money. If tenants have pets that can potentially ruin parts of your property, you can fairly charge them additional rent and collect a pet deposit. Many property owners require a pet deposit that the tenants don’t get back. This pet deposit can be a form of compensation that can help pay for damages caused by pets, as well as compensation for putting up with the hassle of allowing pets on your rental property.
Increase Your Renewal Rate
Pet-friendly houses and apartments are in short supply, so renters with pets are more likely to renew their lease. Allowing tenants with pets on your rental property will increase your renewal rate. Allowing tenants with pets on your rental property will also increase your popularity with new renters. The percentage of pet-friendly vacancies is significantly lower than non-pet-friendly vacancies, so if you allow pets, your properties will inherently be more sought-after by new tenants.
Why You Should Allow Tenants with Pets: Improve the Atmosphere of Your Property
If a tenant is mature and responsible enough to take care of an animal, there’s a good chance they will also take good care of your property and treat it with respect. Allowing pets on your rental properties will attract responsible, empathetic, caring tenants. Additionally, many tenants feel that keeping a pet helps them reduce stress and feel happier. Allowing your renters to keep pets around can help the atmosphere of your property feel happier and homier for the tenant.
Ultimately, studies have shown that there is not a significant difference between the damage caused to properties by tenants with pets and the damage caused to properties by tenants without pets. So even though pets can cause minor damage, there are many other persuasive, compelling reasons to allow tenants with pets on your rental properties. Allowing pets on your rental properties can help you collect more rent, increase the renewal rate of your properties, and improve the atmosphere of your properties.
Interested in learning more about investing in the rental market? Come to a meeting and learn more!
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The Southwest Florida Real Estate Investment Association is the leading source of SWFL real estate investing events that provide investment education and networking in southwest Florida. We analyze the housing market and foreclosures and provide information, education, and networking events in order to build a network and knowledge base for investors and potential investors. Our members include real estate agents, brokers, investors, hedge fund managers, rehabbers, wholesalers, and more.
Our SWFL REIA General Meeting is held in Fort Myers where we provide education on hot topics in investing and an opportunity to enjoy the camaraderie of your fellow investors. You’ll get a chance to ask for advice from successful real estate professionals and even make a few deals on your latest projects.
To become a member, anyone can register as an individual, a couple, or a corporation. Being a member opens the doors for endless networking opportunities, advice from members with decades of experience, new ideas from entrepreneurs, camaraderie with those just beginning, and deals and contracts done in the meeting room. For those interested in Cape Coral rental property investment and/or Fort Myers rental property investment, SWFL REIA will be able to provide a network to help launch a successful investment career.
The SWFL REIA is known and respected as a source of current, actionable and useful information about the housing market in the area that we meet.
We meet twice a month.
One of the premier sources for real estate investing networking and education is the SWFL REIA. In the real estate world, the SWFL REIA is different in that it does not do information product sales. Their meetings are focusing on the best ways of investing in real estate by collaborating with other property investors who are sharing their experiences.
We look forward to meeting you at a meeting soon!
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