It’s a well-known fact that most landlords, property managers, and homeowners associations give pause to residents with pets. But, here we have listed a few considerations from the leading property management services in Kansas City for offering pet-friendly housing.
- Did you know allowing pets can attract more residents? Nowadays, many of the new buildings are designed with the aim to accommodate pets. Many homeowners are ready to offer dog wash stations, enclosed dog parks, and even doggy daycare.
- Allowing pets can bring you additional income since some animal lovers are willing to pay more to live in a pet-friendly property. Getting additional revenue for pets is justified as animals cause additional wear and tear on units.
- People with pets are inclined to stay longer as it is often hard to find a pet-friendly unit. Lower turnover means more consistent cash flow and higher return on your investment.
- Before allowing the pets in your building, check with your insurance company to make sure if they have any restriction on pets. Some insurance companies charge more for some special breeds of pets.
- Make your pet policy clear in the contract before renting the unit to the tenants. In the agreement, specify what type and number of pets are allowed in the unit and even include the size and weight of the pet.
- Charge the maximum allowed security deposit by the State law to allow people to have pets. Depending on your local laws, part or all of the deposit may be refundable.
Adding pets to the property can seem like an unnecessary complication, but it can be the wonderful decision you can ever make to retain tenants.