There are a few ways to attract tenants to your Contra Costa County rental home. These include undertaking desirable upgrades or carrying out renovations. Allowing pets in your rental unit is a more cost-effective and faster solution.
Although there are undeniable benefits to allowing people with pets to occupy your rental home, there are also risks attached to owning a pet-friendly property.
Read this to help you decide whether it's worth allowing pets in a rental property to attract tenants.
Benefits of Pet-Friendly Properties
Over 60% of Americans own pets ranging from goldfish to horses, so you increase your potential pool of renters considerably when you allow pets in your property.
Most of these pet-owning families consider these creatures a part of their families. As such, they will go to great lengths to accommodate these animals when they move to a new home.
That means they're prepared to pay higher rentals and comply with their leases to the letter to avoid having to start the search for a new home again. For this reason, people who own pets often make good tenants who pay their rent on time and take good care of the property.
Despite this generalization, you should still conduct the usual background checks when placing tenants with pets in a rental unit and carry out regular property inspections to ensure lease compliance.
Risks Associated With Allowing Pets in a Rental Property
Property damage caused by unruly animals is the biggest risk associated with allowing pets in your rental unit. Despite their owner's best intentions, some pets can cause problems for property owners, tenants, and neighbors.
Some of these issues may include:
- Excessive barking
- Digging up landscaping
- Soiling flooring materials
- Creating lingering, unpleasant odors in the house
- Wandering around the neighborhood
An aggressive or nervous dog may bite someone, causing you to become involved in an unpleasant and costly lawsuit.
You can charge a pet deposit to help buffer you against the cost of pet damages. Interviewing the family beforehand with the pet present can also help you gauge how obedient and well-trained it is.
Under California law, service animals aren't considered pets, and you must accommodate them as much as possible. This means you must waive your no-pet policy for these animals, and you can't charge them a pet deposit, either.
Get the Best Landlord Advice in Contra Costa County
Owning a rental property involves many important decisions, like choosing a pet policy.
Allowing pets in a rental property can help you secure good tenants who will go out of their way to avoid breaking the lease. It can also lead to expensive property damage and potential legal difficulties.
PMI Contra Costa has the experience to help you make the right choices every time. We are backed by over 20 years of experience in California real estate, and our property managers are well-informed and committed to helping you grow your rental business.
Get the help you need to make the best decisions for your Contra Costa County investment properties today.
