Landlord: Should I Accept A Pet At My Rental?

The question that all Landlords face- Should I accept pets at my rental property? There are both advantages and disadvantages to allowing pets in your rental and we understand our clients concerns. Let’s jump into the pros and cons of permitting a pet in your income property. 

PROS

Charge more rent: Allowing a pet in your rental can increase it’s rent value and is often the #1 reason a landlord considers it. Many tenants with pets expect to pay more for a pet friendly property. According to online studies, most property owners increase the rent between 1-3% of the monthly rent when accepting a pet.

Attract more tenants: Making your rental property pet friendly gives you access to a larger pool of tenants and is in more high demand. As of 2023, 66% of U.S. households (86.9 million homes) own a pet. According to a survey by Apartments.com, 72% of renters have pets with 76% of millennial renters having a pet.

Reduce turnover: One of the largest expenses landlords face are vacancy costs. Tenants with pets are more likely to view their rental as a permanent residence and stay in their rental longer because it is harder to find pet friendly options.

CONS

Property damage: A landlord’s biggest fear- Will a pet cause damage to my rental? Accepting a pet does increase your risk of damage such as scratched flooring, pest infestations, urination, and damaged landscaping. We recommend charging an extra pet deposit, which can range from $250-$500 per pet depending on the breed.

Noise complaints: Let’s face it, dogs bark. As a landlord you are responsible for creating an environment of quiet enjoyment for your tenants. Noise complaints from pets can be tricky and hard for the pet owner to correct.

Legality: There is an increased risk of an animal biting another resident or neighbors. While landlords are not generally liable, you should discuss this with your insurer and consider requiring pet owners to have renters insurance. 

Keep in mind, income property owners must comply with California's Fair Employment and Housing Act, which requires a landlord to allow an emotional support or service animal to live in their rental property. Learn more about emotional support animals, pet screening and pet addendums in our next blog.