Dogs and cats are members of the family, but that doesn't always mean that landlords want them to live on their property. According to the National Association of Realtors, 43 percent of renters said they'd be willing to move to accommodate their pets.
Before you decide to allow pets in a rental property in Charlotte NC, it's important to weigh the pros and cons carefully.
Read on to learn about the benefits and drawbacks of allowing pets in your rental property, so you can decide which option is right for you.
You Can Charge More
While weighing your rental property pricing, it's important to note that you might be able to charge more if you allow pets. Most tenants are willing to pay more if it means that their furry friends can stay.
If you decide to go this route, just make sure that the tenant abides by the rental property rules regarding pets. You should also charge a separate pet deposit to cover any damages once they move out.
A Larger Tenant Pool
Saying that you allow pets in a rental property will widen your tenant pool immensely. Most people who own pets are looking for this before they're willing to even look at a new rental home or apartment.
If you make it clear that pets are allowed, you're likely to get more applications than you would if you don't. However, if the Charlotte real estate market is hot, then it might not be a concern.
Pets in a Rental Property: Long-Term Tenants
If you're tired of tenants leaving after their lease is up, consider allowing pets. Most pet owners are more than willing to stay where they are if it means their pets can stay, too.
It's much more difficult for pet owners to find a new place if they have their cat or dog in tow. As long as you allow the animals to stay, they'll likely renew their lease to avoid the extra stress.
Property Damage
One of the downsides to allowing pets inside your rental property is that they can cause damage. Whether it's urinating on the carpet or chewing on the crown molding, some animals can be quite destructive.
Make sure that you have a pet clause in your rental property maintenance agreement. This should make it clear that tenants are responsible for paying for any pet-related damage the property incurs.
Noise Issues
There's nothing quite as unnerving as a barking dog. Some pets can become a nuisance to other tenants, creating tension and unhappy tenants.
If you find that a pet is causing trouble, address the issue with your tenant right away. Make it clear that they must keep their pet under control at all hours to ensure the quiet enjoyment of the property for all.
Choose Wisely
It's tough to decide whether you should allow pets in a rental property. Weigh the pros and cons to help you determine whether it's the best option for you.
If you need professional help with managing your tenants in Charlotte NC, contact Wilkinson Property Management today!
