Today we’re talking about whether you should allow pets in your rental. At Mill House Properties, we rent to two groups of tenants: students and non-students. Our pet policy depends on who is in the property.
In the properties that are occupied by students, we like to maintain a no-pet policy. The main reason for that is the fact that students are so busy with their class schedules and studying that they don’t have the time necessary to dedicate to pets. This means the animals are often crated or confined to a small room, and that can lead to bad behavior. So we suggest that students don’t have pets.
For our non-student renters, we do recommend that owners allow pets in the properties. That’s because over half of the population have pets or would like to get a pet at some point. So if you don’t allow pets, you’re removing 50 percent of the market from your tenant search. In a competitive situation like renting out your property, you want the home to be available to as many people as possible.
As an owner, you have the option of limiting the size or breed of the pets you’ll allow in your property. Typically, we cast as wide a net as possible so you can really maximize the marketplace when you’re looking for a tenant. I have personally been an investor for about 25 years and I always allow pets in my properties. There have been only two incidents involving pet damage over the years, which is a pretty good ratio.
Allowing pets is a good idea for you and other property owners. If you have any questions about pets or you need any information pertaining to your rental property, please contact us at Mill House Properties. We are always happy to help.