After making the initial yes or no decision, you will need to decide on a specific pet policy. An example of this would be that you will allow a cat, but no dogs. Or maybe cats and dogs are both ok, but they need to weigh under a certain amount. How do you feel about a tenant who has a bird, reptile or small rodent, such as a hamster?

There is no right or wrong answer, because you’re the owner of the property, right? But what you decide can, and most likely will, affect your pool of applicants. Be sure to have your pet policy in place, so that you know where you stand, when that time comes.

There are definitely pros and cons of both sides. Let’s take a look at the reasons why you should allow pets in your rental property and also the reasons why you may not want to.

Here are the pros of being pet friendly:

On the pro side, the largest factor to consider is this: if you allow pets you have a larger pool to draw applicants from. People who own pets are obviously going to need a pet friendly space to call home. Most people are very attached to their pets and if you don’t allow them into the unit, then those prospective tenants will check your rental off of their prospective list - no mater how nice your property is.

Pet owners are caretakers of the furry friends they call family. It stands to reason that if they are responsible enough to feed their pet, take them for walks, to the vet, and to buy them food, then there is a good chance that they will be responsible also when it comes to being a good caretaker of your property.

Finding the perfect pet friendly property to rent isn’t always easy. If you allow pets, your pet owner tenant will be happier sharing the space with the four-legged friend, which in turn creates a strong possibility that they will stay longer in the unit. 

While you do take a risk allowing pets on property, that risk allows you to request more money from the tenant. Some landlords charge a pet “rent”, in addition to the standard pet deposit. Pet rent is an additional charge that your tenant will pay every month, in order for the pet to stay at the property too. This money allows you to generate a little extra income for the additional wear and tear of having a pet in the home.  

Now let’s take a look at some of the cons:

This is a big concern for most landlords. When you rent to a tenant who has a pet, you have no proof that the animal will not damage your property. From chewing on the woodwork to having a potty accident on the living room carpet, this is something to take into account.

Pets get dirty and they often smell. No matter if you bathe them all the time, it’s just the way it is. These odors often absorb into the carpets and the walls, and if you own a furnished unit, then it will also be on the upholstered furniture and linens. 

Barking can be a common nuisance when you live next to someone who has a dog. Often the slightest sound, or even just seeing someone walk by the window, can set off a round of endless barking. Some dogs bark when they’re on alert, some dogs bark when they’re nervous, and some dogs even bark when they’re happy and just playing. The bark factor is another unknown when you manage a pet friendly property.

If that same dog who barks a lot when they get scared and anxious happens to squeeze out the door of the house or make an escape from the yard, there is a possibility they could end up biting a neighbor or a child playing nearby. You may want to contact your insurance agent to find out the local laws on a situation like this, as well as to make sure you have the proper liability coverage in place. 

Whether you have a pet-friendly rental or a no pets policy, Thousand Hills Realty in Branson, MO, is here to help you with the property management process. Call us today to discuss how we can take the stress out of property management for you! (417) 337-8081