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All You Need to Know About Allowing Pets in Your Rental Properties.
Should you allow pets in your rental property? How do you avoid all the risks associated with renting out to tenants with pets?  Why should you consider letting pets into your rental? What are the benefits, if any, of renting out to tenants with pets?  How do you properly screen a pet to ascertain that… Continue reading All You Need to Know About Allowing Pets in Your Rental Properties.

Should you allow pets in your rental property? How do you avoid all the risks associated with renting out to tenants with pets? 

Why should you consider letting pets into your rental? What are the benefits, if any, of renting out to tenants with pets? 

How do you properly screen a pet to ascertain that they are a good fit to live in your rental? Keep reading as we attempt an in-depth response to these concerns.

Allowing pets into your rental gives you a wider pool of tenants. Most tenants talk about how disappointing it is to see search results get cut by half once they check the box for pets.

The number of Baltimore families with pets is at an all-time high. The pandemic encouraged a lot of families to get a pet. 

Only 55% of landlords in the US are ready to rent to tenants who have pets, even though over 68% of US households do. 

If you are unsure about how to protect your investment from all the risks associated with renting out to tenants with pets, contact us. 

Baltimore Village property management has been removing the hassle of owning a rental property for over a decade now. 

We have the know-how to create a strong lease agreement that clearly outlines all of your pet policy clauses in a way that is compliant with the law and is easy for you and your tenants to understand. 

Why You Should Consider Allowing Pets in Your Rental Properties.

Tenants want to keep pets, and they’re prepared to pay for the opportunity, according to several studies that have been undertaken in recent years.

Pet ownership has many benefits for families that have one. From bringing joy and happiness to reducing anxiety. 

Pet ownership has been acknowledged by Healthy People 2000 to improve health. 

A pet has been a source of comfort and reduced depression and loneliness among tenants while encouraging an interesting lifestyle.

Enough of the benefits for the tenants, what about you? What will you be gaining from taking this risk of allowing pets in your rental? 

Greater Number of Applicants and More Market Value

The amount at which you can set your rent depends on market value. 

You might be able to charge a higher rent if you permit pets in your rentals (big dogs in particular), especially if there aren’t many pet-friendly properties in your community. 

If a selection has to be made between your property and one comparable to it that doesn’t accept pets, it might at the very least provide you an advantage over the competition.

Long Term Residency

One of the most crucial considerations a renter may make when choosing a place to live is whether or not to move in with a pet. 

Tenant is more likely to renew their lease and stay for a longer amount of time if they believe that their pet is enjoying its quality of life. 

Most pet owners don’t want their animals to go through frequent moves because it might be stressful for them.

Pet Owners Are Usually Excellent Tenants

Dedication and responsibility are needed to properly care for a pet. Similarly, responsible pet owners are more likely to take good care of your property, a place they—and their pets—call home.

Pets Screening

Now, you are convinced and want to allow pets in your rental property. 

Just as tenant screening is important when finding good tenants, pet screening is essential to avoiding disagreements with the tenant down the road. 

So how do you know what pets to allow and what to reject? You may obtain the services of a third party or do it yourself. 

Here are a few questions that will help you identify red flags and help you make a more informed decision.

  • What animal and breed is your pet?
  • What is your pet’s weight?
  • What is your pet’s age?
  • How long have you had this pet?
  • Can you provide proof of vaccinations?
  • Can you provide a letter from your veterinarian confirming that each pet is in good health and up-to-date on vaccinations?
  • Has your pet ever hurt another person or animal?
  • Is your pet housetrained?
  • Does your pet have any behavior issues? This may include bared teeth, growling, dog hackles, or excessive barking.

Risks Associated with Allowing Pets Into Your Rental Properties.

A blanket ban on pets is usually the go-to option for most of us for a reason. Pets are known to cause a lot of damage to property, from annoying neighbors to ungodly smells.  

It can be hectic to keep noise at manageable levels with multiple dogs, cats, and birds in the neighborhood. This has encouraged many HOA to adopt the blanket ban.

Unwashed or improperly groomed animals may leave the apartment with undesirable scents.

Essential Tips if You Are Considering Accepting Tenants With Pets

Inquire about the animal’s breed, age, size, shedding, and other details. Before deciding, you could also request to see the animal in person.

When dealing with letting agencies or posting adverts, use language like “will consider pets” rather than the general “pets accepted”.

Negotiate your rent taking into account the fact that not all landlords are happy with the idea of permitting dogs.

You should increase the minimum deposit to account for the increased risk of harm. A good rule of thumb is to increase the normal six weeks’ rent to eight.

Make sure your inventory is accurate so you may file a claim for any damage the animal (or human, for that matter!) caused to your possessions.

Think about including a supplemental fee for end-of-tenancy cleaning to be done by a professional.

If you have any reservations about particular species or sizes, let them know upfront.

Add a clause that specifies all the regulations your renter must follow concerning pet ownership as an attachment to your leasing agreement.

Finally, consider whether additional inspections of the property could be necessary based on the kind of pet your tenant wants to keep.

Navigating Fees and Deposits

The amount of the pet deposit and the amount, if any, that will be returned at the end of the tenancy should also be included in the pet agreement. 

Check with your state’s regulations surrounding pet deposits before you create your pet agreement and include deposit language. 

In other words, you need to familiarize yourself with the intricacies of the pet deposit regulations set forth by your state. Sounds like a lot? Contact us.

Service and Emotional Support Animals

You are normally required to allow a tenant’s service or emotional support animal into the rental unit as long as it’s a reasonable accommodation.

Conclusion

The benefits of accepting applications from tenants with pets simply outweigh the risks. What do you think? Let us know in the comment section below,

Baltimore Village Property Management is a top management company in Baltimore, that can help you navigate all the risks associated with allowing pets on your property. Give them a call today for a free rental analysis.

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