4 reasons to make your rental pet-friendly

Pet ownership is everywhere, and renters with pets apply for rentals 1.6 times more than their pet free counterparts. This means that the demand from pet owners for quality, amenity-rich housing is strong. Tapping into this market has incredible potential for long-term business success.

#1. More profit

Simply being pet-friendly increases the rental applicant pool exponentially. After all, renters without pets are in the minority. So the choice alone to allow pets is already a lucrative one. But, how much further does it go?

Most long-term rentals charge pet rent which can range from $10 to $100 per month. Each additional pet can incur an added fee. Landlords may also require a pet deposit or a non-refundable pet fee. These can range anywhere from $200-$500. Any damages caused by pets should be covered by the pet rent, but stipulations can be made in the lease or pet policy requiring pet parents to incur any cost.

#2. Prolonged tenancy

Moving is hard for anyone—especially pet parents who have to consider their pets’ health and wellbeing. Plus, finding pet-friendly living can be difficult. With that, pet parents typically stay longer in pet-friendly rentals that meet their needs. There are plenty of reasons why a pet parent may be more willing to stay in their rental.

• Amenities. Rentals that have pet-specific amenities such as dog runs or grooming stations incentivize owners to stay longer.
• Community. Living in a pet-friendly community creates a sense of camaraderie amongst pet owners, especially if their pet has a new friend to play with.
• Their pets. Change is difficult for pets and can cause anxiety and stress. Pet parents whose pets like where they live will be less likely to make a change without good reason.

#3. Safer communities

Researchers at the University of Louisville found that property crime rates were 1.71 percentage points lower in homes with dogs than those without. While this isn’t a dramatic difference, it is significant. The nature of pet owners walking their dogs on a regular basis creates a sense of trust within the community, which correlates to less crime. Not only that but dogs are often attentive and boisterous. Their ability to bark is a pretty great deterrent against those looking to commit property crimes according to this survey of 86 burglars.

#4. Quality of life for tenants

Pet ownership is closely linked to human health and wellness. These benefits don’t just apply to pet owners; they also apply to those within the community who regularly interact with those pets, meaning that allowing pets benefits all tenants.

• Lower stress. Pets can reduce stress,  anxiety, and depression and they help to combat feelings of loneliness.
• Increased health. Not only that, but pet owners tended to be healthier  than their counterparts. They exercised more and were less likely to overindulge in alcohol or smoke tobacco products.
• Greater confidence. Because of what we outlined in safer communities, pet owners are less afraid of being victims of crime.
• Fast friendships. Owning a pet can aid in forming friendships  with other tenants.

Quality of life of tenants should always be a top priority for landlords. It can reduce tenant turnover, lower maintenance costs (as a happy tenant will be more respectful than one that isn’t), and boost your property’s reputation.

Choosing to make your property pet-friendly has incredible benefits both short-term and long. From creating pet-perfect amenities and creating pet policies to understanding how to market to pet owners, we have everything you need to know to transition your property to its pet-friendly future.

Frequently asked questions

Is it a good idea to have a dog in an apartment?

Allowing renters to bring their pets, including dogs, can increase the amount of applications you receive on units, and with 59% of renters having at least one pet, you could be missing out on a huge demographic.

Why do renters not like pets?

There may be several reasons why a renter doesn’t like having pets around whether that be due to allergies, fears, or viewing them as nuisances. Regardless, any community that welcomes pets should also equally serve their renters that don’t own pets and that starts with creating respectful policies.

Are pet owners better renters?

That depends on who you ask! But, pet-friendly rentals have an average lease time of 46 months compared to 18 months for those that don’t allow pets.

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