Whether or not to allow pets is an argument that many landlords have had to debate for their own rental property. There are both pros and cons to allowing pets in your rental properties, so it can be exceptionally beneficial to do your research prior to making a decision either way. 

The Good

The fact is, the majority of families own pets. When you forbid pets from your properties, you limit the number of potential tenants you can have. Allowing pets in your rental property will expand your potential tenant pool. Tenants also tend to stay on a property longer when they are allowed to have pets. Allowing pets will also allow you to charge more rent to tenants, which can improve your profits. 

The Bad

Pets can cause damage to property with actions such as chewing or scratching. They may also result in noise complaints, particularly with barking. Pets may cause odors within a property. Allowing pets on a rental property may result in the landlord being liable if the pet causes injury to another person. 

Minimizing the Ugly

In many cases, landlords allow pets in their rental properties in order to remain competitive. Taking certain steps may minimize the cons of allowing pets on a rental property. It is important to set rules regarding the allowance of pets, such as limiting the total number of pets or restricting the size of pets. You may also want to meet the pet prior to approval to gauge their temperament for yourself. Collect a pet deposit to offset any repair costs that pet damage may incur. There is no set answer as to whether or not you should allow pets on your rental property. In fact, it is largely a matter of personal preference and up to the judgment of the landlord. To obtain more information regarding allowing pets in your rental properties, contact us at the Keyrenter in Fort Lauderdale today.