According to the Insurance Information Institute, 66% of American households, or 86.9 million families, own a pet. Since many of these families are renters, allowing pets in your Houston rental property should be a top consideration. After all, tenants who consider their pets family will want to live in properties that accommodate pets.
The big question is, should you allow pets in your rental?
Our team at PMI Bear Creek will explore the pros and cons of implementing pet-friendly policies in this guide, so please read on.
The Pros of Allowing Pets in Your Houston Rental Property
An American Veterinary Medical Association report says that most dog (88.8%) and cat (84.7%) owners regard their pets as family members. So, it's understandable that many pet-owning renters who need or want to move to a new place look for properties with favorable tenant pet policies.
By allowing pets in rental homes, landlords in Houston, TX, can enjoy the following benefits:
- More applications for your property, as the demand for pet-friendly rentals is high
- Higher rent potential, as Houston landlords may charge higher rents (or "pet rents")
- Reduced turnover costs: Pet-owning tenants know how challenging it can be to find pet-friendly rentals, so once they find one, they're more likely to renew the lease
- Responsible pet-owning tenants with well-trained, well-behaved pets
The Drawbacks of Allowing Pets
While the benefits of implementing favorable pet rental agreements are enticing, it also has risks. Consider the following as they can affect your long-term investment:
- Pets can damage or cause early wear and tear on carpets, walls, and furnishings, leading to costly property repairs
- Some people (including other tenants) may be allergic to pet dander
- Pets in rentals lead to the need for more comprehensive cleaning, which could lead to tenant disputes
Making the Right Decision
Ultimately, you should base your decision to allow pets on your unique situation and the type of tenants you want to attract. If you love animals yourself and also want your renters to keep living with their pets, consider letting them, but ensure you:
- Require pet deposits to cover potential damages
- Clearly define pet policies in the lease, outlining tenant responsibilities
- Schedule regular property inspections to ensure compliance with policies
You should also consider hiring a full-service Houston property management firm. They can help with all your pet-friendly lease-related tasks, such as:
- Marketing your property to both pet and non-pet owners
- Screening tenants and their furry family members
- Drafting clear and transparent lease agreements
- Overseeing property inspections and maintenance to ensure tenant compliance
Let PMI Break Creek Manage Your Pet-Friendly Houston Rental
Allowing pets in your Houston rental property can expand your tenant pool, boost income, and help with lease renewals. However, it can also increase your property's risk for pet-induced damage.
If you're still unsure about welcoming pets, remember you don't have to navigate this alone. PMI Bear Creek, our full-service property management company in Houston, TX, can provide expert advice and support. With our local knowledge and expertise, plus the backing of PMI, a fast-growing franchise that has been perfecting the property management sector for nearly 20 years, our team can help you implement the right policies and manage your property efficiently.
Reach out today so we can get started with your free property consultation!
