America is a nation of animal lovers. With more people than ever owning pets and more than 65% of the younger population living in rental accommodations, there's a significant crossover between those two groups.
But many landlords in the California Bay area are wondering if they should allow pets in a rental property. Is the hassle ever worth it?
If you're looking for more information on the pros and cons of pets in rental properties, we can help. Read on for everything you need to know.
What the Law Says
As a landlord, it's up to you whether you want to allow tenants to bring pets into your property.
The exception is service animals. Service animals are defined as animals that are specifically trained to assist people with disabilities, for example, guide dogs. You are legally obliged not to discriminate against tenants who need the help of these animals.
Some people also have emotional support animals. These animals are not officially protected, so you have the option to reject potential tenants in this case.
Potential Costs
There's a common myth that animals in a property can cause great damage, which passes on a cost to landlords. In fact, there's only so much the average cat or dog can do to an apartment. They could pee on the carpet or scratch the walls, but this is unlikely to cost too much.
Most of the damage they can cause is fairly minor and is easily covered by the average deposit. It's a good idea to assess what kind of animal you're allowing into the property and think about what kind of damage they could do. Consider upping the deposit accordingly if there's a risk.
Potential Rewards of Pets in a Rental Property
Although there are some costs associated with allowing pets in rentals, that's just one side of the coin. There's also plenty of extra money to be had if you pay your cards right.
You can up the rent of your property when you allow pets. Tapping into an underserved market of renting pet owners, you'll increase demand for your property. With increased demand comes the possibility of increased rental prices.
On the flip side, pet-free rentals are less appealing to renters.
Other Issues
When it comes to pets in a rental property, money isn't the only issue. There are a few other potential problems to consider.
One issue is the noise a pet could make. If one tenant has a barking dog in their apartment, others in the building could become angry and make noise complaints.
Get Help With Your Rental Properties Today
As a landlord in the California Bay area, there are all kinds of different issues to think about. From allowing pets in a rental property to tenant screening, you'll need to be on top of everything if you want to make a success of property ownership.
Or will you? By hiring a property management company, you can take the stress out of being a landlord while still making a tidy profit. Contact us today and learn more about how Blue Line Property Management can help you!
