According to the APPA, 66% of American households own a pet, which amounts to over 80 million people.
Some of these smaller companions, like rodents and fish, have hardly any impact on their accommodations. Others, such as cats and dogs, might present some challenges for landlords.
If you own an investment property in the San Francisco Bay area, excluding pets from your home limits your market. Yet it also safeguards your asset from potential damages.
Before you decide, find out about the pros and cons of pet-friendly rentals and how a San Francisco Bay property management firm can help you manage this issue.
Benefits of Allowing Tenants With Pets
Based on the above statistics, you could get many more rental inquiries if you advertise your property as pet-friendly. You can also charge extra for this facility in the form of non-refundable pet fees, pet deposits, or extra rent for pets.
In most cases, pet owners are responsible tenants who take steps to prevent pet-related damages. Since it's difficult to find pet-friendly rentals, they usually renew their leases every year, too.
A local property management company will screen and vet tenants accordingly. They'll also ensure your lease states any charges levied for pet-related damages to your home.
If you decide to allow pets in your home, it's vital to have some boundaries in place. Your lease must state which species of animals you allow.
If preferred, you can also exclude some types of dogs, or place size limitations on what's allowed.
Drawbacks of Having Pets in a Rental
Damages like scratches, chewed wood and wires, and ruined landscaping are obvious risks associated with pets, but there are a few more.
Homes with pets can develop an unpleasant odor over time. Pet hair also accumulates in every nook and cranny, and can spread allergens through multi-family residences.
Barking dogs may disturb neighbors, and an aggressive animal may even bite someone.
During the interview, you must ask prospective tenants if they've experienced any of these problems with their dogs. You can also check in with previous landlords to find out about any dog-related complaints.
If a condo association or HOA has jurisdiction over your home, you must check with them first before allowing pets in your rental house.
It's important to work with a property manager in San Francisco Bay to set up a lease that clearly states what's allowed and what's not. If your lease doesn't state ''no pets', tenants may house as many animals as they want in your home.
In some cases, tenants are legally entitled to keep pets, so make sure you know the rules before you exclude them.
Teaming Up With a San Francisco Bay Property Management Firm
Are you tempted to allow pets in your investment property? If so, it's vital to hire an experienced San Francisco Bay property management company to assist you.
It's the best way to maximize your rental market, thanks to careful tenant screening procedures and regular property inspections.
As one of the leading property management companies in San Francisco Bay, we can help you enjoy all the pros associated with pets while limiting the cons. Get in touch today to discover how we can help you.