Allowing pets may seem risky, but it can shorten vacancy periods and increase monthly cash flow when managed properly.
One of the most frequently asked questions I hear from landlords is, "Should I allow pets in my rental property?" It's a fair concern. The idea that pets can cause damage is a concern for any property owner. However, if you automatically say no, you may be missing out on genuine opportunities.
Why allowing pets can help your rental perform better. Over 80% of renters have pets. When you say no to animals, you're cutting off a huge portion of the rental market. That means longer vacancy periods and lower overall income. Pet-friendly homes often rent faster because more people can apply. And when your property sits empty, it costs you money. Another major benefit is added income. If you allow pets, you can charge a pet deposit, a monthly pet rent, or a one-time fee. This extra income can help cover potential wear and tear. In many cases, it also serves as a good buffer that offsets added risk.
“Saying yes to pets isn't just about being flexible; it's about being committed to them.”
The main concern: property damage. The biggest downside is potential damage. Pets can be rough on flooring, carpets, and even walls. If you've heard horror stories about ruined units, you're not alone. That's why most landlords avoid pets altogether. But there's a way to protect your investment without turning away pet owners.
How we help protect your property. At Tide Property Management, we offer a $5,000 pet protection guarantee for all our owners. That means if a pet causes damage beyond what's covered by the deposit or fees, you have built-in protection. It's one of the ways we help you feel more confident saying yes to qualified renters with pets.
Saying yes to pets isn't just about being flexible; it's about being committed to them. It's a strategy that can widen your audience, reduce vacancies, and boost your rental income. And with the proper protections in place, it doesn't have to be risky.
If you're still weighing the pros and cons or want to learn more about our pet protection plan, I'm happy to help. You can reach me directly at 803-727-7256, send an email to pierce@tidepm.com, or visit https://tidepm.com to get started.
