Should You Allow Pets In Your Rentals?

Today we’re hitting on a question that a lot of real estate investors and landlords alike ask us: “Should I allow pets in my rental?” 

And we see this a lot with owners who are transitioning their primary residence into their first rental.Not wanting big destructive dogs to come in and tear the place up.
So we understand we get it.

Still, the answer is Yes… you should ALWAYS allow pets in your rentals.

There’s many reasons for this, but I’ll start with cold hard facts that come straight from the National Association of Realtors. They put out a report that showed that, for 2022, about 70% of tenants do have pets.

So if you’re going with no pets, you’re immediately losing 70% of your tenant market pool. Taking longer to lease your property, which means more vacancy costs and less rent collected.

Now then Allowing pets, can be a huge advantage, especially when the pet owner feels that YOU are allowing pets perhaps when OTHERS are not. They’ll want to STAY in your property instead of looking for other places that might not allow pets. Meaning Less vacancy and less turnover costs.

Another thing some property owner’s overlook is the rapport that builds with your tenants.

People these days treat their pets like their children, and you do not want to be the person getting between that.

Be the guy thats good with kids, dogs and cats in this instance. Maybe some fish or lizards. However, we recommend NOT charging an extra pet deposit, 

Instead you can do additional monthly pet rent. We typically do $25/mo/pet 

So, if you’re a property owner, investor or landlord in the OKC Metro, give us a call, we’d love to learn about you, your properties, and cover any questions or concerns you may have about getting into professional management.