As a property manager, there are many different aspects you have to think about when it comes to renters. Especially with luxury properties, you'll want to perform screenings to assure the property stays in tip-top shape. One of the aspects that you need to consider is the allowance of pets onto the property. Before you decide whether to have pets on your property or not, check out this list of the pros and cons of a pet-friendly rental.
The Pros of Pet-Friendly Rentals
Higher Rental Rates
If there are not a lot of pet-friendly rentals in the area, people are willing to pay a higher price for a place that accommodates their furry friends. The increase in demand for a pet-friendly rental may allow for a bit of an increase in the rental price. It may not be much, but in the long run, this could prove to be extremely lucrative.
Broader Renter Market
According to the American Veterinary Medical Association, from 2017 to 2018 "Approximately 38% of households nationwide owned one or more dogs." Opening up your property to pets brings about a wider tenant pool. Families love to bring their pets with them on vacation, especially when it's for a longer time period, which leads us to the next advantage.
Longer Tenancy
If renters can finally find a nice place that allows pets, those renters will often choose to stay longer. They won't have to rush back home to get their pet from the kennel, so they can enjoy their vacation for a few extra days. It will also make for happier renters, which will give your property better ratings.
Responsibility & Transparency
If you allow for pets in the property, you create a transparent environment for the guests. It decreases the chances of renters trying to sneak pets in and allows for more open communication. Pet-friendly rentals frequently mean that the renters coming in will be more responsible and more aware of cleaning up any messes.
The Cons of Pet-Friendly Rentals
Pet Odors
One of the big cons that people often think about for pet-friendly rentals is the odor and allergens that cats and dogs bring into the home. Plus, if there are any accidents that leave an odor, your other renters will not be too happy about this. It may cost you more to clean up the home if a pet stays.
Damage to the Property
Animals can cause various damages to the rental property. From scratches to a ruined lawn, it's important to stay aware of the destruction pets can bring to properties.
Disturbing the Peace
If a renter brings a dog onto the property, there is a big chance that it will bark. If the rental property is close to other homes, then the barking may disturb neighbors. There's nothing that you as a property manager can do in this case, so this may be a bit difficult to keep under control.
Telluride property management companies should look over these pros and cons to help weigh the decision of whether or not a pet-friendly rental is what's best for them. For those looking to rent, speak to the property manager before deciding where to stay on your next vacation to determine if they allow your furry friends to stay.
