There are some justifications why Newburgh landlords should let tenants have pets inside their rental homes. Actually, while deciding whether to allow dogs, the majority of landlords take into account advantages including the ability to charge pet deposits and higher rent. There are other, unanticipated benefits to allowing pets that single-family rental property owners should be aware of. Here are 5 important reasons for permitting tenants to keep pets in your rental property.
Increased Property Values
The ability to raise the value of your home is one of the most important justifications for allowing pets among your tenants. Studies show that houses that allow pets to stay appreciate more quickly than houses that do not. In addition, homebuyers frequently seek out properties with pet-friendly amenities, such as pet entrances, fenced-in yards, etc. The value of a rental property that welcomes pets may be higher than it would be otherwise.
Shorter Vacancies
The desirability of your rental home can be improved by allowing pets. According to a recent survey, more than half of all renters said they would be more likely to rent from a landlord who allows animals. This indicates that permitting pets in your rental property will likely reduce vacancy duration.
Fewer Repair and Maintenance Issues
Contrary to what many people think, tenants with pets are less likely than tenants without pets to harm your property. This is due to the fact that tenants who have pets are typically already more responsible tenants. Many renters who own pets are aware of the responsibilities associated with pet care and are inclined to give their rental home the same amount of attention.
Increased Security
Another compelling reason to allow tenants to retain pets is that it may enhance the security of your home. Studies indicate that properties with animals have lower rates of burglary and vandalism. This is probably due to the fact that burglars are less likely to target a home if they are aware of the presence of a pet.
Improved Tenant Health
The last point is that enabling tenants to keep pets can be very beneficial to their well-being. It has been demonstrated that having a pet lowers stress, blood pressure, and cholesterol. Additionally, they may help to promote more social interaction and physical activity. For these reasons, pet-owning tenants are frequently healthier than those without animals.
As you can see, there are many persuasive arguments in favor of allowing tenants to keep pets in your rental home. If you have been contemplating whether or not you should allow pets, maybe this list has persuaded you to at least give it a try! Both your tenants and your property will value it.
Do you want advice from a professional on how to make your rental home more pet-friendly? Contact your local Real Property Management office today!
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