Pets in a rental property: amazing idea, or recipe for disaster? This is a tough question that every rental property owner must decide upon for themselves. There are pros and cons to each side, and it's a decision that could end up impacting how successful you are as a landlord.
As such, it's a big consideration. This guide will look at things from both sides, take into account possible mitigating factors, and hopefully help you to decide whether pets and rental properties are two things that belong together. Read on for compelling arguments on both sides of the pets in a rental property debate.
The Pros of Having Pets in a Rental Property
Many apartments don't allow their tenants to have pets. This can actually work in your favor if you decide that this is something you will allow. Why?
Did you know that almost 60% of people in North Carolina have at least one pet? It's true! This is a huge demographic that immediately opens up to you when you decide to allow pets.
With so many other properties not allowing pets, you'd automatically be putting yourself at an advantage over your competition. If you conduct a thorough background on all tenants, you'll be able to see whether there's been any trouble with their pets in the past, to put your mind at ease. So, having pets in your apartments is great for business, it's a no-brainer then, right?
The Cons of Having Pets in a Rental Property
Of course there are downsides to having pets in a rental property. There is a reason that many apartments don't allow pets as a rule. For one, there is a lot of potential for property damage.
Dogs and cats have been known to scratch, chew, and knock over just about anything that they come into contact with. They can also be loud, and prone to disturbing neighbors.
As well as this, they could potentially soil furniture, rugs, and soft furnishings. Pets are unpredictable and unable to stick to rules that have been laid out. This might prompt you to want to carry out more frequent property inspections, which can be time-consuming.
All of these reasons are valid. So if you don't want to allow pets, you'd be perfectly within your rights.
Should You Allow Pets in Your Rental Property?
A few more things to consider, before making your decision. If you want, you can allow some but not all pets. For example, goldfish and turtles are far less likely to cause trouble than dogs or cats. If you allow some pets, you're not closing yourself off completely from the pet owner demographic, but still protecting your property from damage.
As well as this, if you have a property management company, they will be able to deal with any extra inspections, cleaning, and evictions that arise out of allowing pets. This can negate the extra work while making it easier for you to find tenants.
The Bottom Line
Whether you do decide to allow pets in a rental property or not, you may still be in need of some extra assistance. If you'd like to take on the services of a professional Charlotte property management company, we can help. Get in touch today and let us handle the hard part of being a landlord.