Have a rental property? Why not rent it out to a tenant with a pet
A landlord is always looking for tenants who would stay with them for a long time. Are you someone who is struggling to find tenants for your rental property? While opening up your property to tenants with pets is a smart solution, it is a decision you should take seriously. There are certain pros and cons of having a tenant with pets. While having a pet-friendly property makes it easier to get tenants and retain them, you have to ensure that the tenant has a trained pet so that you can avoid any drawbacks.
Better rental income
Often tenants with pets are more affluent and willing to pay more rent. Since many properties are not pet-friendly, the pet parents don’t mind shelling out some extra bucks to move into a good property.
Tenants with pets stay longer
Pet parents look for suitable properties, and once they zero in on one and move in, they prefer to stay longer. The longer tenancy will be advantageous to landlords as they need not have to keep hunting for good tenants frequently.
Pet owners are more responsible
Pet owners are compassionate and caring for their pets. This makes them more responsible, too. Hence they are inclined to keep the property in good condition, handling it with care. While all the above are the pros of having a pet owner as the tenant, there are some disadvantages. Here are the most common concerns.
Damage to property
Poorly trained pets can cause damage to property, which includes scratches on the floors and damage to carpets and wires. Pets tend to chew on wires and destroy carpets. Hence, make it a point to discuss the above points with the pet owner while renting out a furnished house.
Disturbance to neighbors
Lack of proper training for a pet can create an unpleasant situation. Barking dogs and pets that make noise can disturb neighbors, and they may even raise complaints. Some people are allergic to pets. When the allergens travel through air and air-conditioning ducts, they can make neighbors sick. It is more common with cats and dogs. When the pets use common areas, they are likely to bite the neighbors. Hence, you must rent your property to a tenant with a trained pet.
Poorly trained pets, especially dogs, may eliminate waste inside the building. This can cause inconvenience for other occupants of the building. Bad odor and waste disposal are two grey areas that you need to discuss before you hand over your property to a pet owner.
As a thumb rule, you should screen your tenant before letting out your property. When you plan to let out your property to a pet owner, ensure that you check whether there has been any past problem with their pets. If you’re in the same city, you should try to meet the pet. The way a pet behaves with a stranger can indicate the kind of training it has received. Also, you ask the prospective tenant questions like whether the pet has a license and who would take care of the pet when the owner is not around.