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Should I Allow Tenants With Pets: Yes or No?

rental property management Chicago IL, Lakeview property management, Lakeview property management

At Real Property Management Chicago Edge, we believe that you don’t need to work like a dog to be successful. With our team of experts on your side, we’ll help you quickly achieve your goals in rental property management. Chicago, IL landlords can trust us to know the ins and outs of the industry and steer them in the right direction. One thing we know for sure, accepting tenants with furry friends is the purrfect way to earn a little extra income.

What About the Risks?

Everything in life comes with risk, and a lot of rental owners may worry that allowing pets will cause expensive and irreparable damage. If you’re involved in Lakeview property management, then you know that cats and dogs can leave scratch marks, chew up carpet or wood, and leave a rental home just a little more smelly than it was previously. However, most damage done by pets is not too extensive or unfixable. Plus, pet owners are generally more responsible than your average tenant (they are taking care of a living creature, after all!) so they will probably notify you of any damage before it gets too considerable.

You’ll Attract More Tenants!

The American Veterinary Association did a study that found that 1 in every 2 renters own a pet, and 35% of those who do not would consider owning one if it was allowed in the lease agreement. If you allow pets on your rental property, you will gain a whole new group of possible tenants.

Need more reasons to allow pets?

  1. You’ll have less tenant turnover because it’s harder for pet owners to find housing. Chances are they will stay put much longer than your average tenant.
  2. Most pet owners are happy to pay a pet premium, pet deposit, or monthly pet rent, which means more money in your pocket and smarter rental property management. Chicago, IL landlords can increase their gross rental income by allowing pets.

A Final Note About Screening Pet Owners

Before you accept the first pet owner that applies for your rental property, remember that you can ask pertinent screening questions beforehand, such as:

  1. Has your pet ever acted aggressively towards any human or animal?
  2. Do you take your pet to the vet regularly and does it have vaccinations?
  3. Has the pet undergone any kind of training? (litterbox trained, house trained, etc)

Remember that if you are involved in Lakeview property management, you cannot disqualify any service animals on your property no matter what. It is against the law. At Real Property Management Chicago Edge we promise to save you time and money. So go ahead, take that cat nap and rely on Real Property Management Chicago Edge to do the rest.

 

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