Are you a landlord in Wichita wondering whether to allow pets in a rental property? This decision can be complicated, and it's important to consider both the pros and cons before making a final call. Keep scrolling for a complete breakdown of both!
Pros of Allowing Pets in a Rental Property
Allowing pets in a rental property is a hotly debated topic among tenants and landlords. However, allowing pets can benefit both the tenant and you as the property owner or landlord. Here are some arguments for allowing furry friends to join your tenants.
Allowing pets in your rentals can help you boost your profits. Few rental properties allow pets, which means that by allowing them, you'll charge higher rental rates to cover any extra damages or liability. If you can get the rental property pricing just right, some extra cash can be pure profit.
Bigger Tenant Pool
With pet ownership at an all-time high in the United States, not allowing pets could reduce your potential market for great tenants. Offering attractive rental tenant terms for pet-owning tenants can provide an opportunity to open up your rental property tenant pool. This could, in turn, allow you to attract more (and better) tenants.
Pet ownership requires financial and time management skills, with recurring expenses for food, grooming, and veterinary care. Responsible pet owners prioritize these expenses to ensure their pets' health and happiness. This typically means they're more likely to respect your rules and stay on top of their rental payments.
Cons of Allowing Pets in a Rental Property
Allowing pets in rental property isn't all positive. Here are some cons to weigh before deciding to make your rentals pet-friendly.
Rental Property Damage
While pets can bring joy and companionship, they can also cause significant damage to a property. Some common behaviors, such as urinating on carpets, chewing on wood, leaving messes in public spaces, and destroying landscaping, can lead to costly repairs and maintenance.
Noise is a major concern for rental properties that allow pets. Excessive barking from dogs, for example, can become disruptive to neighbors and make it challenging to manage noise levels. This could lead to complaints and issues with other tenants, leading to higher vacancy rates.
Injuries to Other Tenants
If your rental property allows pets, physical harm to other tenants is possible. Requiring pet owners to hold adequate renters insurance is helpful, though. It might not solve the issue, but it provides peace of mind.
Hire a Professional Property Manager
Still on the fence about allowing pets in a rental property? Ultimately, it's becoming a more common practice. However, you don't have to manage pets in rentals alone!
At Wichita Property Management, we excel at guiding property owners through a proven process that maximizes marketability and rental prices. We can help you with everything from tenant screening and rent collection to maintenance (if a pet ever causes any damage).
Contact us today to learn more about our services and experience peace of mind with a trusted property manager.