From scratches and bite marks to carpet stains, these are just some reasons many landlords don't let pets in a rental property. They're all valid concerns, but a no-pet policy also means property owners are missing out on a massive market. After all, as many as 70% of renters are pet owners.
So, if you're unsure about allowing pets in your rental property in Auburn Hills, this guide is for you. Read on, as we'll discuss how to navigate the world of having pet-friendly rentals.
Reasons to Allow Pets in a Rental Property
About eight in ten renters with animals say they have trouble finding a rental unit that welcomes their pets. This is despite landlords reporting that half of their rental properties are "pet-friendly." In many cases, these rentals have restrictions on dog breeds and sizes.
Unfortunately, many animals end up in shelters because of those restrictions.
You can help keep families with their beloved furry members by welcoming all pets in your units. Moreover, your pet-owning tenants are more likely to keep renewing their lease. After all, they wouldn't want to have another tough time finding a rental as welcoming as yours.
Having an inclusive pet policy also expands your prospective tenant pool. As mentioned above, about 70% of renters have pets. On top of these are prospective tenants who don't have pets yet but are considering getting one.
Considerations When Adopting Pet Policies
Welcoming all pets is a fantastic idea, but you must prioritize safety and set boundaries.
First, never allow any animal prohibited under Michigan laws, such as large carnivores and wolf-dog hybrids. It's illegal to possess these animals, so anyone who does is breaking the law.
As for typical household pets like cats and dogs, here are some considerations to make.
Pet Approval and Screening
Meet, interview, and screen tenants along with their pets in person. Seeing them face to face can help gauge whether an applicant is a responsible "fur parent." You can also see for yourself if their pet is well-behaved and well-groomed.
Ask applicants for copies of their pet's vaccination records during each interview. These should include rabies, distemper, leptospirosis, and hepatitis shots, to name a few.
Pet Damage Insurance
Even well-behaved and trained cats and dogs can still cause property damage.
So, it's imperative to require tenants to purchase pet damage insurance. This can help cover the costs of fixing or remedying the damage their furry family members cause.
Pet Deposits
Aside from insurance, you should also require tenants to pay higher deposits. These "pet fees" will cover any damage to your property. You can also use them to pay a professional to clean and restore your property if the tenant moves out.
Make Your Property Pet-Friendly
When you allow pets in a rental property, you can help families stay together and keep animals out of shelters. However, ensure you set rules that prospective tenants thoroughly understand.
If you're ready to welcome pets to your property, our team here at PMI Great Lakes can help. We proudly deliver professional, full-service property management services you can count on. We can help you create pet policies to maximize your tenancy rate.
So, reach out to us today! We'll happily help you find the best pet-owning tenants for your property in Auburn Hills.
