Over 68% of U.S. households own a pet, and this number is increasing every year.
Deciding on your pet policy in your Atlanta rental property might be challenging. Allowing pets inside your properties has some obvious disadvantages, but there are also benefits.
To help you think things through, we've included the benefits and drawbacks below.
Advantages Of Allowing Pets in Rental Properties
Pets are fun to be around and can play an important role in emotional support. Establishing a pet-friendly property has several advantages. They include:
Market value establishes the maximum rent that can be requested. The price of your rental in Atlanta will go higher if you allow pets. This is particularly beneficial when you want to attract new clients and there aren't many pet-friendly homes in your neighborhood.
If a decision has to be made between your property and one that is similar but does not accept dogs, at the very least, this can give you the upper hand over the competitors in the greater Atlanta area.
More Tenant Candidates Available
With 32% of millennials (the generation with the highest number of renters) owning a pet, it might be a good idea to allow them in your property. By allowing dogs and cats, you draw more renters to your property and have a larger pool of potential tenants to select from.
Pet Owners Are Often More Responsible People
Pet owners dedicate a lot of time, effort, and money to looking after their pet. They're also likely to put a similar amount of effort to keep your property in good condition.
Negative Effects of Allowing Pets in Rental Properties
Pet ownership can come with risks, even though some of these can be minimized. Below are a few issues that might come up.
Damage to Property
This is frequently the primary argument made by landlords against allowing dogs in their rental houses. Your property may suffer scratching, ripping, and tearing from pets. In addition to destroying the curb appeal, they can gnaw on cables and wires which is a safety hazard.
When there are numerous pups, kittens, and birds on the property, it can be challenging to keep noise levels at normal levels. Excessive barking and other pet noises can be upsetting to other tenants. Worse still, excess noise can reduce the rental value of your property.
Offending odors might accumulate on the property if pet boxes and droppings aren't cleaned. Pets that are not groomed as required might also have bad odors.
Should You Allow Pets in Your Rental Property?
If you're still debating whether or not to allow pets in your rental properties, we implore you to do so. Although there are some risks connected with pet ownership, the advantages far outweigh these drawbacks. Make sure you do a thorough tenant screening to get the best tenant possible.
Do you need assistance with the management of your rental property in Atlanta? Get in touch with us today to learn more about our property management services.